Details

  • Industry: Financial Services
  • Date: 2/22/2014

Regulatory Alert #14-02 | February 19, 2014 

Federal Reserve Board Approves Final Rule Establishing Enhanced Prudential Standards for Bank Holding Companies and Foreign Banking Organizations with More Than $50 Billion in Total Consolidated Assets
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On February 18, 2014, the Board of Governors of the Federal Reserve System (Federal Reserve Board) approved a final rule that establishes enhanced prudential standards for U.S. bank holding companies (BHCs) and foreign banking organizations (FBOs) with total global consolidated assets of more than $50 billion.  Nonbank financial companies deemed systemically important by the Financial Stability Oversight Council (Council) and supervised by the Federal Reserve Board are not covered by the final rule though in the preamble the Federal Reserve Board states it will apply enhanced prudential standards to individual nonbank financial companies by rule or order.  To read more, see the Regulatory Alert attached to the left.