WASHINGTON - Some foreign bank branches that are not adequately supervised by their home countries may have to close under new rules the Federal Reserve Board is considering.

The rules, mandated by Congress in the wake of the Bank of Credit and Commerce International scandal, are aimed at forcing foreign countries to regulate their banks on a global basis.

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.