On December 14, 2012, the Fed proposed rules on the oversight of U.S. operations of foreign banks.  The proposed rules would require foreign banking organizations with a significant U.S. presence to create an intermediate holding company over their U.S. subsidiaries, which would help facilitate consistent and enhanced supervision and regulation of the U.S. operations of these foreign banks. Foreign banks would also be required to maintain stronger capital and liquidity positions in the U.S.  Fed Release.