Federal Register: Bank Regulators Propose Revised Framework, Rules for FBOs

Several banking regulators' proposals to revise the regulatory framework and rules for foreign banking organizations ("FBOs") were published in the Federal Register. Comments on the proposals must be received by June 21, 2019.

As previously covered, the proposals include:

• the Federal Reserve Board ("FRB") proposal to implement the "tailored" application of the prudential requirements to FBOs;

• FRB, Office of the Comptroller of the Currency and FDIC-proposed joint regulation to apply the capital liquidity requirements to the U.S. operations of foreign banks; and

• FRB and FDIC-proposed regulation that would amend resolution planning (or "living will") requirements as applied to the U.S. operations of FBOs.