Zions Get Hit By Volcker Rule With $630M CDO Charge

Zions Bancorporation (NASDAQ:ZION) announced that the Volcker Rule will force it to take a hit on its portfolio of Collateralized Debt Obligation, showing it is not just big banks who will be impacted by the recent Rule. Todd L. Hagerman and Robert Greene of Sterne Agee point out the likely capital impact for the Salt Lake City company is likely years away from final determination. Zion to record $629 million non-cash charge According to Sterne Agee analysts the Volcker Rule will force the company to reclassify the entirety of its predominantly bank and insurance Trust-Preferred Collateralized Debt Obligation (CDO) portfolio as…