U.S. regulators will grant banks an exemption from Volcker Rule limits for collateralized debt obligations (CDOs) composed mostly of small-bank securities, according to a statement from regulators today.

The adjustment to the rule would allow banks to keep CDOs backed by trust-preferred securities (TruPS) established before May 19, 2010, and obtained by Dec. 10, 2013, five financial agencies said in a joint news release.

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