Tarullo also said that regulators here in America only see a portion of worldwide activities of these banks. He said some risks are more closely tied to the specifically international character of certain global banks, both in America and in some other parts of the world.
The big issue is that Tarullo has said that the Board of the Federal Reserve is discussing these international regulations. He noted, “I anticipate that in the coming weeks we will complete our work and issue a notice of proposed rulemaking that will elaborate the basic approach I have foreshadowed.”
JON C. OGG