Fed’s Powell supports relief for community banks facing compliance burdens

Jerome Powell

Federal Reserve governor Jerome Powell is in favour of setting a $10 billion asset threshold for determining which banks should be subjected to the Volcker rule. This, he said, would be one way of providing relief to community banks, which "rarely engage in any of the activities prohibited" by the rule.

Addressing the Annual Community Bankers Conference, held in New York, Powell argued community banks "should not face significant burdens from complying" with the rule.

"I support raising the

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