EC to fight new US prudential rules for foreign banks, says EBF
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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