The Federal Reserve board proposes Dodd-Frank systemic prudential regulations for foreign banks
Making good on Federal Reserve Governor Daniel Tarullo’s promise earlier this month of imminent Federal Reserve Board action to regulate foreign banks in the US under the Dodd-Frank Act, late Friday afternoon the Board proposed regulations to implement the enhanced prudential regulation and early remediation requirements of Sections 165 and 166 of the Dodd-Frank Act for systemically important and other foreign banks, and foreign nonbank financial institutions. Comments on these proposals will be due by 31 March 2013.
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