June 14, 2018 / 6:23 PM / a year ago

U.S. Fed to finalize rule limiting bank exposures so single counterparties

WASHINGTON, June 14 (Reuters) - The U.S. Federal Reserve on Thursday said it would finalize a rule introduced following the 2007-09 global financial crisis limiting the amount of credit exposure a big bank can have to a single counterparty.

The rule, which applies to domestic and foreign banks of more than $250 billion in assets, aims to prevent the contagion risks that saw many big banks wobble during the crisis due to their large exposures to one another. (Reporting by Michelle Price, editing by G Crosse)

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