FBO Branches/Agencies to Get New Exposure Reporting Requirement
The Federal Register today includes a proposal from the FRB to revise its requirements for U.S. branches or agencies of foreign banks reporting their total direct claims on foreign residents to remove the five-country limit.

Fed Proposes Stricter Card-Not-Present Network Obligations
Responding to merchant concerns, the Fed today proposed changes to its rules governing debit card interchange fees and routing to state in more binding and clear terms that debit card issuers should enable merchants to choose from at least two unaffiliated networks for card-not-present transactions.

Daily050721.pdf