Fed Pushes To Get Foreign Banks Under Dodd-Frank Umbrella

Law360, New York (November 28, 2012, 7:53 PM EST) -- A top Federal Reserve official on Wednesday said the central bank will impose new capital and liquidity requirements on the U.S. units of foreign banks, a move designed to prevent global banks from skirting Dodd-Frank Act reforms.

In a speech at Yale University in New Haven, Conn., Fed Gov. Daniel Tarullo, the central bank's point man on regulatory reform, said the agency would release new rules that would require international banks to create so-called intermediate holding companies to house their U.S.-based subsidiaries, including securities and commercial...
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