The five agencies in question are the Federal Deposit Insurance Corporation (FDIC), the Federal Reserve, Office of the Comptroller of the Currency (OCC), Securities and Exchange Commission (SEC), and Commodity Futures Trading Commission (CFTC).
The five say the switch allows banks to “allocate resources to a more diverse array of long-term investments in a broader range of geographic areas, industries, and sectors”.
This new modification will come into force on 1 October 2020.
