Reuters: Regulatory News: Fed's Tarullo-Foreign bank curbs won't threaten global reform

Reuters: Regulatory News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Fed's Tarullo-Foreign bank curbs won't threaten global reform Apr 3rd 2013, 12:55 NEW YORK, April 3 | Wed Apr 3, 2013 8:55am EDT NEW YORK, April 3 (Reuters) - The Federal Reserve's point person on financial regulation said on Wednesday that plans to tighten oversight of foreign banks in the United States are crucial for financial security and pose no threat to global banking reform. "I understand that banks sometimes don't like to have to increase their capital, but that is something we've required of banks in the United states," said Fed Governor Daniel Tarullo said during an interview with CNBC TV. "The proposal to the foreign banking organizations is an effort to respond to the financial vulnerabilities that they could pose for us, and which in turn would pose vulnerabilities for the world." Tarullo's plan would force foreign banks to group all their subsidiaries under a holding company, subject to the same capital standards as U.S. holding companies.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions