The US Federal Reserve is preparing to issue a proposal by March 2019 that would scale back Dodd-Frank requirements for foreign banks with US operations, said Mark Van Der Weide, the Fed’s general counsel.
“It’s not required by legislation, but we think it’s good public policy,” he told a banking conference in New York this week. “In the first quarter of 2019, we hope to get out a proposal on that.”
Van Der Weide also said finalization of a long-term liquidity proposal, called the net stable funding ratio, is “on our short list of things to get done.” It has been held up in part by attempts to “synchronize” the standard with the shorter-term liquidity coverage ratio and supervision requirements, he said.
Fed to propose trimming foreign bank requirements by March, official says
30 November 2018 7:36am