Of the many Dec. 31 deadlines facing Washington, at least one is getting pushed out, according to regulatory officials: The final draft of the Volcker Rule.
The editing process and eventual completion of the rule " which places limits on banks' trading abilities" requires the sign-off of five government agencies, and previous drafts have swelled to 300 pages. (Read More: Volcker Rule: CNBC Explains)
Due to the complexity of the rule, the challenges of agency coordination and the volume of feedback regulators received, officials are now pointing to the first quarter of 2013 as a more tenable deadline, instead of the year-end goal telegraphed previously by participants like Martin Gruenberg, acting chairman of the Federal Deposit Insurance Corp.
Read the entire CNBC article here.
