District Circular Letters

February 25, 2013

Federal Reserve Board Extends Comment Period on Proposed Rule to Implement Enhanced Prudential Standards and Early Remediation Requirements until April 30, 2013


On February 22, 2013, the Federal Reserve Board announced the extension of the comment period to the proposed rule to implement the enhanced prudential standards and early remediation requirements established under sections 165 and 166 of the Dodd-Frank Wall Street Reform and Consumer Protection Act for foreign banking organizations and foreign nonbank financial companies supervised by the Board until April 30, 2013. The enhanced prudential standards include risk-based capital and leverage requirements, liquidity standards, risk management and risk committee requirements, single-counterparty credit limits, and stress test requirements.

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