News Headline Summary

Fed plans to impose stricter requirements affect US business of foreign banks

Says:
- Board set to vote today on seeking comment for proposal.
- Plan affects foreign banks with more than USD 50bln in assets.
- Plan would submit some foreign banks to the US stress test.

Update details:

- This meeting was to discuss the implementation of the Dodd Frank act regarding enhanced prudential standards for large foreign banks.
- These measures will subject foreign banks operating in the US to the same rules as their American counterparts.

Print 19:41, 14 Dec 2012 - Fed - Source: Newswires