EC to fight new US prudential rules for foreign banks, says EBF
EC "very concerned" about capital and liquidity proposals, says chief executive of the European Banking Federation
The European Commission will take the side of the region's banks in a fight over controversial US proposals that would see foreign institutions regulated locally as standalone entities – on the basis of their own capital and liquidity resources, rather than those of their parent – according to the chief executive of the European Banking Federation (EBF).
"The EC is very concerned about this," says Guido Ravoet, the Brussels-based head of the industry group. "It has shown a very good
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