Volcker Rule Faces Delays, Banks Face Higher Costs

The Volcker Rule may not be implement until the second half of 2013, according to sources cited by the Wall Street Journal. Sources told the paper that the specifications of the rules were proving complex to form, and the final version is likely to be delayed. The news will adversely affect the ability of banks to prepare for the implementation of the rules. The rule will address a huge swathe of financial institutions. The most egregiously affected are likely to be the biggest and most complicated banks, including Bank of America Corp (NYSE:BAC), Citigroup Inc. (NYSE:C), and JPMorgan Chase &…