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.
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Senate votes to roll back parts of Dodd Frank
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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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