Banks have until July 21, 2014, to conform to the Volcker rule, the Federal Reserve said. Many banks worried based on language in the Dodd-Frank Act that they would have to comply with the rule, which is not yet final, by July this year. "Our view is that the rule will become more moderate the longer it takes to finalize, especially if regulators delay until after the election," said Jaret Seiberg, an analyst with Guggenheim Securities.

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