Subsidiaries Foreign Banks

News & Analysis as of

US Board of Governors of the Federal Reserve System Finalizes Regulatory Reporting Requirements for Intermediate Holding Companies...

The US Board of Governors of the Federal Reserve System adopted a proposal to extend various regulatory reporting requirements to US intermediate holding company (IHC) subsidiaries of foreign banking organizations...more

Federal Reserve Board Proposes to Include Legal Entity Identifiers in Certain Banking Organization Reporting

One difficulty encountered by national banking authorities during the course of the 2008 global financial crisis was identifying the ultimate parent for the trades made by various subsidiaries of dealers. To assist in...more

"New York’s Highest Court Refuses to Allow Judgment Enforcement Against International Bank Subsidiaries"

This week, the New York Court of Appeals, New York’s highest state court, issued a unanimous opinion in Commonwealth of the Northern Mariana Islands v. Canadian Imperial Bank of Commerce, 2013 N.Y. Slip Op. 03018 (N.Y. Apr....more

U.S. Federal Reserve Board Proposes Major Changes in How the U.S.Operations of Foreign Banks and Their Subsidiaries Are Supervised

While several foreign banking organizations (“FBOs”) were restructuring their U.S. presence to reduce the impact of U.S. regulation, the Board of Governors of the Federal Reserve System (“Board”) recently countered with...more

Iran Sanctions Update

The United States continues to impose additional layers of sanctions on Iran. The rate of change and complexity of U.S. sanctions laws present challenges, particularly where these sanctions have extraterritorial effect on the...more

A Proposed Fundamental Shift in US Foreign Bank Supervision

The Board of Governors of the Federal Reserve System (“Board”) has devoted some time to considering how to address the potential threat to the financial stability of the United States posed by a foreign bank with banking...more

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