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Bank News Mid-Week

BankNews Mid-Week brings you the news you need every Wednesday, covering important industry issues for the states of Colorado, Illinois, Iowa, Kansas, Nebraska, New Mexico, Missouri, Oklahoma, Texas and Wyoming. 

Subscribers depend on Mid-Week to keep up with the latest legislation, personnel changes, charter applications and opportunities throughout the 10 Midwest and Rocky Mountain states. Plus, Mid-Week’s classified advertising section keeps subscribers current on the latest job openings, as well as available products and services.

BankNews Mid-Week is mailed 50 weeks a year.

Excerpt

Jan. 22, 2014

AN INTERIM FINAL RULE was approved by federal regulators last Tuesday (Jan. 14) to permit banking entities to retain interests in certain collateralized debt obligations backed primarily by trust preferred securities from the investment prohibitions of the Volcker Rule. Under the interim final rule, the agencies permit the retention of an interest in or sponsorship of covered funds by banking
entities if the following qualifications are met:

— The TruPS CDO was established, and the interest was issued, before May 19, 2010.
— The banking entity reasonably believes that the offering proceeds received by the TruPS CDO were invested primarily in qualifying TruPS collateral.
— The banking entity’s interest in the TruPS CDO was acquired on or before Dec. 10, 2013, the date the agencies issued final rules implementing section 619 of the Dodd-Frank Act (the Volcker Rule).

The federal banking agencies at the same time also released a non-exclusive list of issuers that meet the requirements of the interim final rule.


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