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BankUnited in Miami Lakes, Fla., has sold two batches of securities in order to comply with the Volcker Rule.
December 19 -
Zions Bancorp (ZION) said the Volcker Rule will force it to take a $387 million charge on its portfolio of collateralized debt obligations.
December 16 -
The Volcker Rule may finally be out, but the process of understanding the intricacies of the complex regulation that bans the largest banks from making risky trades has only just begun.
December 11 -
Defying a difficult market, Cape Bancorp Inc. in Cape May Court House, N.J., announced late Monday that it has sold the minimum number of shares required to close its initial public offering.
January 30
Cape Bancorp (CBNJ) in Cape May Courthouse, N.J., has joined the list of banks selling securities to comply with the Volcker Rule.
The $1.1 billion-asset company said in a regulatory filing Thursday that it sold bank and insurance trust-preferred collateralized debt obligations that cost about $8.3 million at an $850,000 loss. The sale represents Cape's entire CDO portfolio, excluding securities it has already written off.
Cape sold the securities because it "believes that all of its CDO securities will be considered disallowed investments" under the Volcker Rule, a final version of which was
Cape says the sale will increase its tangible equity by $1 million, and that it remains well-capitalized. It had Tier 1 capital of 9.5% and total risk-based capital of 14.13% at Sept. 30, according to the Federal Deposit Insurance Corp.
In the week since the Volcker Rule was issued, lenders including
