Regulators are hoping to finish a proposal by the end of the year, one of the people said. Still, revising it could take years and will face the administrative processes at each of the five agencies: the Federal Reserve, Securities and Exchange Commission, Federal Deposit Insurance Corp., Commodity Futures Trading Commission and OCC. The original rule took more than three years to finish, and a replacement would need to go through a formal joint proposal before all five regulators could finalize it.
This article was provided by Bloomberg News.