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Foreign banks with US branches pan Fed's idea of applying liquidity standards

By Neil Roland ( July 17, 2019, 19:24 GMT | Insight) -- The US Federal Reserve’s preliminary plan for extending liquidity rules to foreign banks’ US branches would likely increase global fragmentation and create overlapping regulation, according to European, Japanese and Canadian banking groups. “This is not necessary, as those branches are legally part of the home legal entity and covered by the home jurisdiction’s liquidity regulations as well as [US] oversight,” the groups said.The US Federal Reserve’s preliminary plan for extending liquidity rules to foreign banks’ US branches would likely increase global fragmentation and create overlapping regulation, according to European, Japanese and Canadian banking groups....

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