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 earlier today (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.
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