False start for foreign banks under Fed’s tailoring rule
Delayed reporting form means requirements for Barclays and Credit Suisse could change twice in 2020
Problems calculating new prudential thresholds mean some foreign banks in the US could see their supervisory requirements change twice in the space of a year, Risk.net has learned.
The issue concerns a new tiered regime for bank prudential and governance requirements known as tailoring, which was mandated as part of the US Regulatory Relief Act – often referred to as the Crapo Act after its sponsor Senator Mike Crapo – signed into law in May 2018.
The legislation prompted regulatory agencies
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