Fed proposes expanding risk regime to foreign subsidiaries

The Federal Reserve, Washington, DC

The US Federal Reserve Board is considering extending its reforms of the risk management obligations for large US financial firms to US-based subsidiaries of foreign-owned firms, it says in a consultation document released on January 4.

The Fed’s consultation invites comment on a draft of core principles governing how large financial institutions should implement “effective senior management, the management of business lines and independent risk management”. The Fed states that the new

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