Fed mulls tighter rules on foreign bank branches
WASHINGTON: The US Federal Reserve is considering imposing stricter rules on foreign bank branches to tighten what critics say is a loophole that has allowed overseas lenders to shield their assets from the toughest bank rules.
The changes being discussed could be a blow for Deutsche Bank, Credit Suisse Group and UBS Group, which have for years held billions of dollars in assets, such as corporate loans, at their New York branches.
The changes could inflame tensions with European regulators. - REUTERS