Fed plans to examine foreign banks' efforts to avoid rules

03/23/2012 | Financial Times (tiered subscription model) · MarketWatch

Federal Reserve Governor Daniel Tarullo told lawmakers that the central bank will review changes made by foreign banks to U.S. subsidiaries to avoid tougher capital requirements. "As I think about the appropriate modes of regulation and supervision of foreign bank organizations in the U.S., the development to which you have alluded has certainly affected my thinking about how we do structured regulation of foreign bank organizations, and I think we will need to respond to that," Tarullo said in response to a question about Deutsche Bank's restructuring of its U.S. unit to sidestep the Dodd-Frank Act.

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Financial Times (tiered subscription model) · MarketWatch

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