WASHINGTON — Federal Reserve Board Gov. David Tarullo Friday made clear the central bank will unlikely be swayed from its push to require that U.S.-based subsidiaries of foreign banking organizations also face capital requirements separate from their parent firm.

Given the financial stability mandate conferred on the Fed by the 2010 Dodd-Frank Act, "we need to do something, and change the circumstance in which a huge banking operation in the United States can have zero capital," Tarullo said, taking questions following a speech at the Peterson Institute for International Economics.

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