CONGRESS/FEDERAL RESERVE/TRUMP AS PRESIDENT: “The Federal Reserve may soon tighten restrictions on foreign banks to prevent them from relying too much on the U.S. central bank in a crisis, a move that’s likely to face pushback from the industry, Republicans in Congress and other countries. The Fed, under leaders appointed by President Barack Obama, ramped up oversight of foreign banks after the 2008 financial crisis, when those lenders borrowed heavily from the central bank and pulled many of those dollars out of the country. Now, President Donald Trump’s hand-picked regulators could ratchet up the rules even more this month by placing new liquidity requirements on U.S. branches of foreign banks, according to people familiar with the matter. If they follow through, it would serve as a striking example in the Trump era where financial regulation is being made more, not less, restrictive.”
–Victoria Guida,”Fed weighs tighter restrictions on foreign banks in rare Trump-era move,” Politico, March 5, 2019 5:14 pm