RBS To Cut US Assets After Fed Capital Requirement Change

Law360, Washington (March 3, 2014, 3:14 PM EST) -- Royal Bank of Scotland is poised to cut its U.S. operations drastically in light of new Federal Reserve oversight and capital requirements rules that would require the bank to move billions of dollars in capital to the states, the bank's CEO said in an interview published Sunday.

Under the new Federal Reserve rules adopted in February, foreign banks with $50 billion or more in total U.S. assets will have to create a single holding company, known as an intermediate holding company, for their U.S.-based subsidiaries and...
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