Tarullo: Fed to 'respond' to Deutsche capital move

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Tarullo: Fed to 'respond' to Deutsche capital move
from MarketWatch.com - MarketPulse
WASHINGTON (MarketWatch) - A top Federal Reserve official on Thursday said the central bank will need to respond to a restructuring announced by Deutsche Bank Ag that seeks to protect it from U.S. capital rules being implemented under the Dodd-Frank Act. "As I think about the appropriate modes of regulation and supervision of foreign bank organizations in the U.S. the development to which you have alluded has certainly affected my thinking about how we do structured regulation of foreign bank organizations and I think we will need to respond to that," said Federal Reserve Governor Daniel Tarullo at a Senate Banking Committee hearing in response to a question about the Deutsche Bank legal structure change.