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 Prudential Collateral of Assignment  First Resource Group 2007

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Music morning everyone I'd like to welcome our guests here at the Fed and also our online viewers today we'll consider proposals in two areas the first would modify our regulation of foreign banks based on their size activities and risks just as we have proposed for domestic banks the second would adjust the timing and content requirements for resolution plan submissions or banks play an important role in our economy they facilitate commerce and provide credit and needed investment our launched long-standing policy is to treat foreign banks as we treat domestic banks that's the fair thing to do and it also helps us banks because banking is a global business and a level playing field at home helps to level the playing field for US banks when they venture abroad only a few months ago we proposed refining our regulations for domestic banking firms to account for the size complexity business model and risks of each firms our proposal today would apply a comparable framework to foreign bank

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