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InvestmentNews reports that the bipartisan bill would raise to $250bn from $50bn the asset threshold for SIFI status, and banks with less than $10bn in assets would be exempt from Volcker restrictions on trading their own capital.
ins for Wall Street were few and far between in the Senate bill. For example, it doesn't include a change -- sought for years by Goldman Sachs Group Inc. and other firms -- that would put a single regulator in charge of the Volcker Rule instead of the five that handle it now. And a provision giving custody banks such as State Street Corp. and Bank of New York Mellon Corp. relief from some capital requirements probably won't help firms such as JPMorgan Chase & Co. and Citigroup Inc., which have big units doing that type of business. The Federal Reserve, however, may still seek to relax those rules.
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