The Fed published a proposed rule that would establish a credit limit for doing business with other large institutions. In effect, this is a super lending limit for large banks. It applies at a fairly low level of $50 billion in assets. This is a Dodd-Frank requirement and perhaps part of the rush of the Obama administration to put as many rules as possible over the finish line before a potential change of political will. The former Federal Bank of the Middle East now known as FBME continues its fight against death sentence effect of the US government determining that a bank is of “primary money laundering concern.” The effect of such a determination can be seen in the Credexbank FinCEN notice whereby the bank was put out of business. FBME is fighting against this determination and is at least having an independent party determine whether it is indeed engaged in money laundering activities such that it should be put out of business.