Treasury official calls on Fed to review foreign bank rules
Senate bill aims to relax US Sifi threshold but offers no relief for foreign banks
A senior official at the US Treasury department has called on the Federal Reserve to align its requirements for foreign banks with a legislative proposal that exempts US banks with less than $250 billion in assets from heightened regulatory oversight.
The Senate voted on March 6 to begin debate on a bill that would raise the asset threshold at which US banks qualify as systemically important financial institutions (Sifis) from $50 billion to $250 billion in consolidated assets.
US Sifis are
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