Banks May Have 12 Years to Implement Volcker Rule

Before you go, we thought you'd like these...
Before you go close icon
Goldman SachsBanks such as Goldman Sachs Group Inc. and Citigroup Inc. may have as long as 12 years to cut their stakes in private-equity units and hedge funds under the new financial reform bill, Bloomberg News reported.

The time-frame in the bill, combined with provisions that would allow banks to apply for extensions, make it unclear exactly how quickly banks would have to reduce their investments. Estimates cited by Bloomberg News range from seven years to 12 years.

Under the so-called Volcker rule in the financial reform bill, banks would have to cut their investments in hedge funds and private equity to more than 3 percent of their capital .
Read Full Story

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners

A Holocaust Survivor Found These Old Photographs - And Solved A Decades-Old Mystery A Holocaust Survivor Found These Old Photographs - And Solved A Decades-Old Mystery
Don't Get Too Close To a Newborn Giraffe Unless You Want to Get Kicked in the Nuts Don't Get Too Close To a Newborn Giraffe Unless You Want to Get Kicked in the Nuts
Man Finds 5 Abandoned 'Puppies' In His Garden - Then Quickly Realizes He Made A Big Man Finds 5 Abandoned 'Puppies' In His Garden - Then Quickly Realizes He Made A Big