Fed Extends Comments For Dodd-Frank Foreign Bank Rule

Law360, New York (February 22, 2013, 2:09 PM EST) -- The Federal Reserve on Friday extended the comment period for a rule that would make the U.S. branches of foreign banks subject to the Dodd-Frank Act's capital, liquidity and prudential standards, potentially delaying a regulation that has drawn the ire of foreign banks and regulators.

Now, banks and others will have an additional month to weigh in on the rule, which the Fed originally introduced in December. The extension comes after a top European Union official vowed retaliation against U.S. banks operating on that continent if...
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