Fed finds more risk failings at FBOs than at US firms

Foreign banks in the US are having a tough time adapting to Federal Reserve supervision, increasing the number of interventions triggered by the regulator relative to their domestic peers.

As of end-June 2018, the 19 large foreign banking organisations (FBOs) overseen by the Fed had 609 outstanding ‘supervisory findings’ – also known as matters requiring attention (MRAs) – each representing an issue with their risk management frameworks. This is up from 492 in 2016.

Furthermore, the 144

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