The Federal Reserve Board ("FRB") proposed to implement the "tailored" application of the prudential requirements to foreign banking organizations ("FBOs"). In addition, the FRB, the Office of the Comptroller of the Currency and the FDIC proposed a joint regulation to apply the capital liquidity requirements to the U.S. operations of foreign banks. Finally, the FRB and the FDIC issued ?a proposed regulation that would amend the resolution planning (or "living will") requirements as applied to the U.S. operations of FBOs.
A full summary will be provided in an upcoming Cabinet newsletter.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
