Details

  • Service: Advisory, Risk Consulting, Financial Risk Management
  • Industry: Banking & Capital Markets
  • Date: 4/17/2013

Regulatory Practice Letter #13-08 

KPMG Conducts Share Forum on Board Proposed Rule to Supervise Foreign Banking Organizations
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KPMG, LLP sponsored a Share Forum on February 19, 2013 to discuss the Federal Reserve Board’s (Board) December 2012 proposed rule, which would introduce new regulatory requirements on foreign banking organizations (FBOs) that operate in the United States (U.S.) and have $50 billion or more in consolidated assets. These new requirements would implement the enhanced prudential standards and early remediation requirements imposed by Sections 165 and 166 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the Dodd-Frank Act) on FBOs covered by the rule.