Citigroup CFO Says Volcker Impact Depends on Proving Compliance

Citigroup Inc. (C) Chief Financial Officer John Gerspach said judging the Volcker rule’s impact will come down to the details of how banks must prove they’re in compliance.

“What’s going to be important is the details,” Gerspach said at an investor conference in New York today. “The details will include the documentation that institutions will have to have in order to justify or demonstrate that they are capable and should have the exemptions” outlined in the rule, he said.

Gerspach declined to comment further, saying he hadn’t read the full text.

To contact the reporter on this story: Dakin Campbell in New York at dcampbell27@bloomberg.net

To contact the editor responsible for this story: Peter Eichenbaum at peichenbaum@bloomberg.net

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