Allison H. Breault’s practice focuses on advising U.S. and international banking, financial services and private equity clients on a broad range of matters including bank regulatory and financial services reform issues, affiliate transactions, mergers and acquisitions, capital markets and structured transactions.

Allison has particular experience with the U.S. and European implementation of the Basel capital and liquidity frameworks, total loss absorbing capacity and stress testing matters.

Allison joined the firm in 2008 and became a senior attorney in 2017. From 2008 to 2012, she was resident in the Washington, D.C. office. She served as a senior attorney at the Board of Governors of the Federal Reserve System from 2003 to 2008, which included a secondment to the Directorate General for Competition of the European Commission. While at the Federal Reserve, Allison focused on issues related to the supervision of U.S. bank holding companies and the U.S. operations of international banking organizations. She was closely involved in the development of the Basel II advanced approaches and market risk capital rules and the Federal Reserve’s Regulation W.

Notable Experiences

  • Woori Financial Group in obtaining approval for its formation as a bank holding company in December 2018.

  • Discover Bank, as special regulatory counsel, in connection with the first fixed-to-fixed Tier 2 subordinated debt offering by a U.S. banking organization.

  • Institute of International Bankers with respect to their advocacy to government agencies on behalf of international banks including in connection with Section 165 of the Dodd-Frank Act, CCAR, TLAC, and implementation of the Basel III capital and liquidity frameworks.

  • ING Bank N.V. in relation to strategic alternatives for its U.S. operational structure including obtaining approval for a new representative office in October 2017.

  • Citigroup in connection with three concurrent registered offerings totaling $5.25 billion including the first TLAC debt offering in the United States.

  • Capital markets advice regarding compliance with bank capital regulations for recent issuances by Citigroup, HSBC, and Bank of New York Mellon.

  • KB Financial Group and its subsidiary Kookmin Bank in connection with their applications and approvals to enhance their regulatory status to “financial holding companies” under the Bank Holding Company Act.

  • OneWest Bank on its conversion to a national bank and the conversion of its parent company to a bank holding company.

  • Banner Corporation in its $702 million acquisition of Starbuck Bancshares (the bank holding company for AmericanWest Bank).

  • HCBF in connection with the conversion of its subsidiary Harbor Community Bank from a federal thrift charter to a state bank charter and in connection with subsequent acquisitions.

  • Oriental Financial Group in its $500 million acquisition of BBVA’s Puerto Rico bank and other subsidiaries.

  • Morgan Stanley as financial advisor to the U.S. Department of the Treasury in its plan and conservatorship for Fannie Mae and Freddie Mac.

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Selected Activities

  • Faculty; Financial Institutions, Markets, and Transactions Training Series; 2023