U.S. faces mounting opposition to proposal for foreign banks

The Federal Reserve has proposed rules requiring major foreign bank holding companies to increase capital and liquidity at U.S. subsidiaries. Germany's Bundesbank and BaFin, as well as German and U.K. banks, are adding their voices to opposition. The rules would have a "negative impact on international cooperation since it does not take appropriate account of consolidated supervision following comparable home country standards," according to German regulators.

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