Fed proposes tighter foreign bank oversight

The United States Federal Reserve proposes to tighten the leash on foreign banks to protect taxpayers from having to bail them out, in what is said could lead to a pullback by the banks from US markets.

The rules is likely to make it more expensive for foreign banks to operate in the US, and lawyers said the banks needed to rethink whether they could maintain current operations.

via Business feed http://www.scmp.com/business/banking-finance/article/1106999/fed-proposes-tighter-foreign-bank-oversight