FRB Extends Comment Period on Proposed Rule to Implement Enhanced Prudential Standards and Early Remediation Requirements

The Federal Reserve Board ("FRB") has extended, from March 31st, 2013 to April 30th, the comment period on a proposed rule to implement the enhanced prudential standards and early remediation requirements established under sections 165 and 166 of the Dodd-Frank Act for foreign banking organizations and foreign nonbank financial companies supervised by the FRB. 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.

View Release in full (Federal Reserve website).