Dodd-Frank will hit Asian banks onshore in the US
Ignoring Dodd-Frank isn’t an option for Asian banks. As one senior figure from the Hong Kong office of a major US firm says: “They need to thoroughly check their exposures – any of my Asian counterparties which don’t investigate whether trading with me brings them into contact with Dodd-Frank isn’t doing their job.”
Market moves suggest that most Asian banks are in fact working furiously to understand the extraterritorial impacts of an act which although born in the USA has a global impact. For
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