New Fed Rules May Force Foreign Banks To Rework US Units

Law360, Washington (February 19, 2014, 5:49 PM EST) -- Although the Federal Reserve made some concessions in the final oversight and capital requirement rules for foreign banks approved Tuesday, the heightened standards still dramatically change the cost of doing business in the U.S. and will force international financial firms to rethink their strategies, attorneys said.

In a public meeting on Tuesday, the Fed unanimously approved the new rule implementing the so-called enhanced prudential standards mandated by the Dodd-Frank Act, which will require foreign banks with $50 billion or more in total U.S. assets to create...
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