Federal Reserve proposes enhanced prudential standards and early remediation requirements for foreign banking organizations

On December 14, 2012, the Board of Governors of the Federal Reserve System (Federal Reserve) proposed new rules regarding oversight of foreign banking organizations (FBOs) doing business in the United States.1 The Notice of Proposed Rulemaking (FBO NPR) implements the requirements of sections 165 and 166 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) regarding enhanced prudential standards and early remediation requirements for FBOs.

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