Fed dodges branch question with new foreign bank rules, leaves six firms in limbo

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Fed dodges branch question with new foreign bank rules, leaves six firms in limbo

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Randal K. Quarles, Vice Chairman for Supervision, Board of Governors of the Federal Reserve System, testifies before the United States Senate Committee on Banking, Housing, and Urban Affairs on Capitol Hill in Washington, DC on “The Semiannual Testimony on the Federal Reserve’s Supervision and Regulation of the Financial System” on April 19, 2018. (Photo by Ron Sachs / CNP / Sipa USA) | CNP/SIPA USA/PA Images

This week the US Federal Reserve side-stepped the question of whether it should apply new liquidity and capital rules to the US branches of foreign banks, publishing proposals that instead focused on tailoring requirements for their intermediate holding companies (IHCs).

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