Foreign branches in US fear extension of liquidity rules
Democrat administration could revive plans to impose LCR, NSFR on branches and agencies
Foreign banks fear plans for standardised liquidity requirements for their US branches and agencies could be revived under Democrat leadership of federal banking agencies, after the Federal Reserve confirmed the divisive proposal – deferred in 2019 – remains on the table.
“It could cause more harm than good, and we prefer they don’t do it at all,” says Briget Polichene, chief executive of the Institute of International Bankers, which represents foreign banks in the US.
The idea of standardised
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