In this issue:

- Bank Prudential Regulation & Regulatory Capital

- Bank Structure

- Credit Ratings

- Derivatives

- Enforcement

- Financial Market Infrastructure

- Funds

- Recovery & Resolution

- Events

- Excerpt from Bank Prudential Regulation & Regulatory Capital:

Federal Reserve Board Proposes Additional Capital Surcharge for Global Systemically Important Banks -

On December 9, 2014, the US Board of Governors of the Federal Reserve System (“Federal Reserve Board”) issued proposed amendments to its risk-based capital rule. The proposed amendments would impose a risk-based capital surcharge on eight US global systemically important banks (“G-SIBs”). The proposal is based on the international standard adopted by the Basel Committee on Banking Supervision (the “Basel Committee”) in November 2011 and would amend the Federal Reserve Board’s risk-based capital rules.