The Federal Reserve has proposed adding an 18-month extension to the initial compliance dates for foreign banks subject to its single-counterparty credit limit final rule. The agency is seeking feedback on the proposal, intended to provide more time for foreign jurisdictions’ version of the rule to take effect.
The Fed noted that the extension would apply only to the combined U.S. operations of the foreign banks and not to any U.S. intermediate holding companies of those banks.
Find out more details about the proposal.