The push to force international banking groups to restructure their businesses to separate retail and investment-banking activities is yet another example of regulators’ determined assault on too-big-to-fail: the cost is the balkanization of the global banking model. Bankers fear wasting billions on overlapping and incompatible rules on bank structures both within the EU and between the US’s Volcker Rule and the EU’s proposed ring-fencing.
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Further reading |
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| • EU-US tensions remain over leverage ratio • Thomas Hoenig interview: Battle against too-big-to-fail fragments banking |
The stakes are high.
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