CLO relief bill awaits shot at Senate

Congress
By Will Caiger-Smith
17 Sep 2014

The House of Representatives has shown strong support for a bill from Kentucky Republican Andy Barr, aimed at protecting the CLO market by extending the deadline for banks to comply with the Volcker rule. The Senate is its next challenge, but market participants are sceptical about the bill’s chances.

Barr’s Restoring Proven Financing for American Employers Act was presented to the House this week as part of a wider package of legislation, the Insurance Capital Standards Clarification Act of 2014, otherwise known as the Collins Amendment, which has strong bipartisan support in the Senate.

The House ...

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