The Federal Reserve Board is expected this week to take the unprecedented step of applying its rules directly to national bank subsidiaries.

On Thursday, the Fed is scheduled to consider a proposal that would apply sections 23a and 23b of the Federal Reserve Act to any bank subsidiary that is engaged in activities that the bank itself cannot undertake.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.