Banks express concerns about consequences of regulations

03/4/2013 | Bloomberg

A Citigroup securities filing says a Dodd-Frank Act provision forcing overseas branches to comply with U.S. derivatives rules might cost the bank customers. Clients "have expressed an unwillingness to continue to deal with overseas branches of U.S. banks if the rules would subject them to these requirements," according to Citigroup. Meanwhile, Goldman Sachs says ring-fencing subsidiaries would force the bank to hold more capital.

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