The Federal Reserve Board has proposed rules to strengthen the oversight of U.S. operations of foreign banks. The proposal would require foreign banking organizations with a significant U.S. presence to create an intermediate holding company over their U.S. subsidiaries, and foreign banks would also be required to maintain stronger capital and liquidity positions in the United States. Foreign banking organizations with global consolidated assets of $50B or more on July 1, 2014, would be required to meet the new standards on July 1, 2015. Comments from the public will be accepted through March 31, 2013.
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