The U.S. Federal Reserve is considering imposing stricter rules on foreign bank ...
WASHINGTON - The U.S. Federal Reserve is considering imposing stricter rules on foreign bank branches to tighten what critics say is a loophole that has allowed overseas lenders to shield assets from the toughest U.S. bank rules, three people with knowledge of the matter told Reuters.
The possible rule changes, that have not yet been decided, could also inflame tensions with European regulators who have long-complained that their lenders are held to higher standards in the United States than domestic rivals. The potential change would look to impose tougher liquidity requirements on foreign bank branches, which could involve holding higher-quality liquid assets to ensure the branch could meet its short-term obligations. Foreign branches held more than $1.6 trillion in assets as of June last year, Fed data shows.
In the aftermath, the Fed tightened rules on foreign banks, requiring them to put their non-branch assets into a new holding company, which would be subject to the same heightened post-crisis rules as domestic U.S. banks, including tough stress tests, leverage and capital standards.
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