The Federal Reserve Board (FRB) has approved a final rule strengthening supervision and regulation of large U.S. bank holding companies and foreign banking organisations. The final rule establishes a number of enhanced prudential standards for large U.S.
bank holding companies and foreign banking organizations to help increase the resiliency of their operations. These include increased risk reporting to the Board of Directors and increased responsibilities for the Chief Risk Officer.
Related link:
http://www.federalreserve.gov/newsevents/press/bcreg/20140218a.htm