Regulatory officials have been optimistic that they would finish critical aspects of the Dodd-Frank Act by the yearend, but as the year comes to a close, banking agencies are likely to miss the target.
Throughout 2013, regulators have pushed to finish several rules by Dec. 31. "Those included finishing tougher capital rules under Basel III; proposing requirements to strengthen the types of liquid assets banks would have to hold to absorb shocks during times of crisis; introducing a second proposal to require the most globally active banks to have an extra cushion of leverage; and finalize a rule that bans banks from making risky trades with taxpayer money under the Volcker Rule," writes American Banker's Donna Borak.
Sources have said the banking agencies are not planning to issue any last minute rules ahead of Dec. 31, and instead plan to wait until early 2014.
For the full piece see "Regulators Likely to Miss Yearend Deadline for Key Regs" (may require subscription).