On September 1, 2017 the Federal Reserve voted to adopt a final rule requiring U.S. global systemically important banking institutions ("GSIBs") and the U.S. operations of foreign GSIBs to amend qualified financial contracts...more
9/12/2017
/ Banks ,
Commercial Bankruptcy ,
Contract Termination ,
Federal Reserve ,
Final Rules ,
Foreign Banks ,
Global Systemically Important Banks (G-SIBs) ,
Insolvency ,
Liquidation ,
Loans ,
Qualified Financial Contracts (QFC) ,
Repossess ,
Stocks ,
Swaps
The SEC recently sanctioned another foreign bank for conducting cross-border brokerage activities without being registered. Since 2009, the SEC has sanctioned a number of foreign firms for failing either to register as a...more
Last month, the Federal Reserve Board issued an Interim Final Rule that treats uninsured U.S. branches and agencies of foreign banks the same as insured depository institutions ("IDIs") for purposes of Section 716 of the...more