On June 10, 2014, the Federal Reserve Board staff, along with the other regulatory agencies responsible for the Volcker Rule regulatory implementation, issued a set of frequently asked questions and answers regarding the implementation of the Volcker Rule, covering areas such as data reporting dates, compliance conformance deadlines, and exemptions from the Volcker Rule, including those for covered funds.
The agencies expect to update the list periodically. These questions and answers are available on the websites of each of the relevant agencies; it can be accessed on the Federal Reserve Board’s website.
On June 12, 2014, the Office of the Comptroller of the Currency (the “OCC”), which charters national banks pursuant to the National Bank Act and is one of the agencies responsible for Volcker Rule regulatory implementation, issued interim examination procedures for its examiners to better understand the regulation and to work with national banks during the conformance period to evaluate their level of preparation for compliance with the Volcker Rule by the regulation’s effective date.
They can be accessed on the OCC’s website.