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The �౦��Ϸ���� Board today is considering a Notice of Proposed Rulemaking (NPR) to align capital and liquidity requirements for foreign banking organizations with those proposed for U.S. banking organizations.

On November 20 of last year, the �౦��Ϸ���� Board approved an NPR that would establish a revised framework for the application of regulatory capital and liquidity requirements for large U.S. banking organizations with total assets of $100 billion or more. A consequence of the revised framework would be to reduce significantly the liquidity requirements for U.S. banking organizations with assets between $100 billion and $700 billion. Since this would, in my view, unnecessarily weaken a central post-crisis prudential protection for the financial system and place the Deposit Insurance Fund at greater risk, I voted against that proposal.

The NPR before the �౦��Ϸ���� Board today would extend a very similar framework to foreign banking organizations in the United States. Since the framework is largely the same, I intend to vote against this NPR.

I would like to thank �౦��Ϸ���� staff for their usual diligent and thoughtful work in bringing this NPR before the Board.