Federal Reserve’s Enhanced Prudential Standards and Implementation Plans: Practical Guidance for Foreign Banking Organizations in 2015
Foreign banking organizations may have both federally and state-chartered offices in the United States. Hence, The Federal Reserve supervises the U.S. operations of foreign banking organizations with the other federal and state banking agencies.
In June 2014, the Federal Reserve Board requested responses to questions relating to enhanced prudential standards under Section 165 of the Dodd-Frank Act and implementing Regulation YY. Many questions were posed by Foreign Banking Organizations (FBOs) and related to implementation, structure, regulatory reporting, liquidity, risk management, and capital adequacy and stress testing. Among other issues, the questions provide guidance on the scope, detail, and length of an implementation plan an FBO must submit to the Federal Reserve.
The Knowledge Group will host a live webcast: Federal Reserve's Enhanced Prudential Standards and Implementation Plans with Practical Guidance for Foreign Banking Organizations in 2015. The panel of speakers will help FBO’s and other affected financial institutions better design, implement, and manage their organizational operations and comply with laws in the United States as they relate to the FAQs.
Some of the major topics that will be covered in this course are:
- Enhanced Prudential Standards of the Dodd-Frank Act – An Overview
- Regulation YY
- Compliance and Exceptions
- Discussion on FAQs:
- Implementation Plan
- U.S. Structure: Single U.S. Intermediate Holding Company
- Regulatory Reporting
- Capital Adequacy
- Stress Testing
- Risk Management
- Up-to-the Minute Regulatory Updates
David L. Glass, Of Counsel
Moses & Singer, LLP
- A principal objective of Dodd-Frank was to mitigate systemic risk arising from large, interconnected financial institutions
- Accordingly, the Act created the Financial Stability Oversight Council (FSOC) to oversee the financial structure
- Among other things, the FSOC has the power to designate Systemically Important Financial Institutions (SIFIs) – financial companies that are not currently regulated as bank holding companies but will be going forward
- The Federal Reserve is mandated to impose enhanced prudential standards on large BHCs, including foreign banks with substantial US operations, and on SIFIs
Frank A. Mayer, III, Partner
Pepper Hamilton LLP
- Represents foreign banking associations
- Granular issues, touched upon in Fed’s December FAQ’s
Who Should Attend:
- Banking and Finance Executives
- Banking and Finance Lawyers
- Investment Bankers
- Chief Financial Officers
- Chief Operating Officers
- Risk and Compliance Managers
- Consultants and Litigators
- Other Related and Interested Professionals
Frank A. Mayer, III, is a partner in the Financial Services Practice Group of Pepper Hamilton LLP, resident in the Philadelphia office. Mr. Mayer is chair of the International Trade Finance Practice and focuses his practice on counseling regulated business enterprises including tax-exempt organizations, with a special emphasis on financial institutions.
Mr. Mayer’s practice is in the areas of bank regulations, international banking, bank insolvency, receiverships and related business disputes, public finance and corporate finance. His Clients represent an array of industries, including financial institutions, health care, real estate, telecommunications, sports, utilities and energy. Mr. Mayer also counsels business enterprises with respect to their relationships with federal, state and local government.
Mr. Mayer is a graduate of Temple University (B.B.A. with honors), the Duquesne University School of Law (J.D.), and the Villanova University School of Law (LL.M. in taxation). He is admitted to practice in Pennsylvania and before the United States Supreme Court, The Pennsylvania Supreme Court, the U.S. District Court for the Eastern District of Pennsylvania, the U.S. Court of Appeals for the Thirds Circuit, the U.S. Court of Federal Claims and the U.S. Tax Court.
Frank A. Mayer, III, is a partner in the Financial Services Practice Group of Pepper Hamilton LLP, resident in the …
With more than 30 years experience, David L. Glass is “an acknowledged expert in the area of commercial banking law” (In re Apponline Inc., 396 BR 602, 608 (2003)). David is listed in the 2014 Metro Edition of New York Super Lawyers® and is recognized as an AV® Preeminent™ Rated lawyer and one of New York's Top Rated Lawyers by Martindale-Hubbell. He also serves Australia’s Macquarie Group Ltd. as a senior bank regulatory adviser and is co-author of Banking Regulation in the United States and editor of the New York State Bar Association Business Law Journal.
David was previously in law practice with a major international law firm, and served as General Counsel of the New York Bankers Association. He began his career at the Federal Reserve Bank of New York.
With more than 30 years experience, David L. Glass is “an acknowledged expert in the area of commercial banking law” …
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Method of Presentation:
NASBA Field of Study:
Specialized knowledge of Applications
NY Category of CLE Credit:
Areas of Professional Practice
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About Pepper Hamilton LLP
Pepper Hamilton LLP is a multi-practice law firm with more than 500 lawyers nationally. The firm provides corporate, litigation and regulatory legal services to leading business, governmental entities, nonprofit organizations and individuals throughout the nation and the world.
Pepper’s Financial Services Practice Group includes more than 45 lawyers and other professionals who focus their practices on issues affecting the financial services industry. The financial services industry is changing rapidly. The expansion of financial institutions into new areas – securities, mutual funds, hedge funds and insurance – requires a group that has the breadth and depth to handle all these needs, needs met by the lawyers in Pepper’s Financial Services group.
The firm was founded in 1890.
About Moses & Singer, LLP
Moses & Singer provides legal services to prominent companies, professionals and individuals in the New York City area. Founded in 1919, the firm's broad array of clients includes leaders in banking and finance, media, real estate, healthcare, business services and technology.
Within the financial services industry the firm has unique strength in corporate trust services, advising financial institutions in their capacity as indenture trustees, as paying agents and as securities intermediaries and custodians. The firm represents institutions on a complete range of financial transactions, with particular focus on letters of credit, subscription finance, lending transactions, corporate reorganization and restructuring.