Expected Volcker Rule Update a Win for Large Banks

WASHINGTON—An update of the Volcker rule expected next week will deliver a victory to large banks that have fought regulators’ efforts to clarify trading definitions, said people familiar with the matter.

The regulators are set to unveil a final rule next week stripped of a measure that could have expanded the types of assets covered by the rule’s limits on bank trading, the people said. Banks including JPMorgan Chase & Co., Bank of America Corp. and Citigroup Inc. had sharply criticized the proposal.

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