Foreign banks expect Fed proposal imminently

New framework for tiering FBO requirements could come as early as this week

Federal Reserve

The Federal Reserve will be announcing hotly anticipated changes to its regulatory template for foreign banks within the next two weeks, and possibly even this week, according to multiple sources.

The Fed has not signalled what approach it will take. It is said, however, to be happy with the tiering system it proposed for domestic banks on October 31, and may apply it to foreign banks, but nothing is certain just yet.

“There is going to be some effort to accommodate [foreign banks] and not