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Fed Adopts Foreign-Bank Rule

New standards approved, requiring big foreign banks to increase capital held in the U.S. Borrowing costs may rise as a result.

By Yalman Onaran, Bloomberg | Updated on February 19, 2014

The Federal Reserve approved new standards for foreign banks that will require the biggest to hold more capital in the U.S., joining other countries in erecting walls around domestic financial systems.

Banks with $50 billion of assets in the U.S. will have to meet the standard under a revised rule approved yesterday, which raised the threshold from $10 billion proposed in 2012. The central bank left out two controversial elements of the original proposal, saying those were still being developed.

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