Fed steers large banks away from acquisitions

12/12/2012 | Wall Street Journal, The

Sources say the Federal Reserve is discouraging large U.S. banks from acquisitions as the debate continues over the risk those banks pose to the financial system. For example, U.S. banks interested in acquiring Bank of America's non-U.S. wealth-management operations didn't pursue a purchase after informal talks with the Fed, sources say. "The Fed looks like it is drawing a new line in the sand," said RBC Capital Markets banking analyst Gerard Cassidy.

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Wall Street Journal, The

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