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regulatory reform

Fed to Issue Final Rules for Foreign Banks

"Foreign banks with a major presence on Wall Street will no longer be allowed to avoid many of the tougher rules that the United States introduced after the financial crisis to prevent banking failures and bailouts.

"The Federal Reserve, a leading bank regulator, issued a final rule on Tuesday that will force the American operations of foreign banks to follow many of the same rules as American banks. The Federal Reserve Board is expected to approve the rule at a meeting Tuesday afternoon.