EU Will Retaliate If Fed Tightens Foreign Bank Rules

Law360, New York (February 15, 2013, 5:30 PM EST) -- The European commissioner in charge of financial regulation on Friday warned the U.S. that if the Federal Reserve moves forward with plans to tighten rules on foreign banks, the European Union would be forced to adopt similar measures targeting U.S. banks.

Michel Barnier, the European commissioner for internal markets and services, said in a speech in New York that if the Fed moves forward with its rule extending the Dodd-Frank Act's capital, liquidity and other requirements to foreign bank branches in the United States, the U.S....
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