Charles Plosser, the president of the Federal Reserve Bank of Philadelphia, on Thursday sided with top regulators in saying they were unlikely to complete the Volcker Rule by its summer deadline."It is not clear at all that we will make the July deadline given the complexities," Plosser told reporters following a speech before the National Economist Club.

Both Federal Reserve Board Chairman Ben Bernanke and Fed Gov. Daniel Tarullo have signaled that regulators would be late in delivering a final rule to Congress, which will bar banks from proprietary trading and limit their investments in private-equity and hedge funds.

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