Tabs

Bank/Thrift Supervision   |    Capital    |    CFPB    |    Deposit Insurance    |    Interchange    |    Mortgage Finance
Municipal Advisors   |    OCC-OTS Merger   |    Preemption    |    QM - QRM    |    Swaps   |    Volcker Rule    |    Full Topics List
 
Qualified Mortgage - Qualified Residential Mortgage
Swaps
Consumer Financial Protection Bureau - CFPB
Bank/Thrift Holding Company Supervision
Capital
Deposit Insurance
Interchange
Mortgage Finance
Municipal Advisors
OCC-OTS Merger
Preemption
Volcker Rule
Corporate Governance
Financial Stability Oversight Council (FSOC)
Appraisals
Office of Financial Research (OFR)
Systemic Risk
Supervision and Oversight
Payment, Clearing and Settlement
Prudential Supervision
Trust & Securities
Asset-Backed Securities
Resolution Authority

Wednesday, August 29, 2012

CFTC Cross-Border Guidance Threatens U.S. Banks’ Overseas Operations

In a comment letter yesterday, ABA urged the CFTC to act promptly to revise its Cross-Border Guidance to preserve the overseas U.S. bank branching model.
Before the Cross-Border Guidance was released, ABA urged the CFTC to take note that the United States remains the global leader in financial services, which continues to provide a strong surplus to our balance of trade, and to take care in crafting a cross-border framework in a manner by which many U.S. banks operate and compete via non-U.S. branches.
However, the CFTC’s proposed guidance “has a high likelihood of significantly hindering” the participation of U.S. banks’ overseas branches in local swaps markets, the association said.

Read ABA’s comment letter.

No comments:

Post a Comment

Please read our comment policy before making a comment.