Fed Unveils Rules To Tighten Foreign Bank Supervision

Law360, New York (December 14, 2012, 6:57 PM EST) -- The Federal Reserve on Friday proposed sweeping rules that would subject the largest foreign banks operating in the United States to the same capital, liquidity and other requirements of the Dodd-Frank Act as their U.S. counterparts.

In a unanimous vote, the Fed moved a set of rules aimed at preventing non-U.S. banks like Barclays PLC and Deutsche Bank AG from restructuring their operations to avoid enhanced prudential measures required under Dodd-Frank, and to potentially avoid future U.S. taxpayer bailouts of foreign institutions.

A base set of...
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