The Federal Reserve on Monday is set to consider proposed rules that would lower liquidity requirements for some foreign banks. The proposal comes after Congress passed legislation requiring regulators to modify some of the banking rules put in place after the financial crisis. It would apply the final liquidity coverage ratio rule that domestic banks now follow to foreign bank holding companies. Fed Governor Lael Brainard said she would opposed the proposed rule because it does not address the liquidity risks associated with branch and agency networks of foreign firms. The Fed will also consider a separate proposal to reduce the frequency that banks need to file living wills with regulators. Brainard said she would also oppose this proposal, saying it goes beyond the requirements laid out by Congress. The rules would cover important global banks such as Barclays , UBS , and Credit Suisse . Overall, the Fed estimates that the proposed changes would boost liquidity requirements for foreign banks by between 0.5% to 4%.