Data gap leaves six foreign banks in US regulatory limbo

New Fed FBO proposal relies on an indicator that banks have not yet been reporting

Federal Reserve

A proposal from the US Federal Reserve puts six foreign banks in regulatory limbo, because some requirements would be calibrated based on a new way of measuring cross-border activity that banks have not yet been reporting.

The US operations of six foreign banking organisations – Barclays, Credit Suisse, Deutsche Bank, Mizuho, MUFG and Toronto-Dominion – could fall into either of two proposed categories that will determine the stringency of their stress-testing, capital and liquidity

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