Posted on 10/20/2013 7:59:32 PM PDT by Olog-hai
The European Union’s financial services chief warned of tit-for-tat action if the United States pushes ahead with plans to impose extra capital requirements on foreign banks.
In December, Federal Reserve Board Governor Daniel Tarullo said foreign banks should be required to hold as much capital as their U.S. counterparts, regardless of how their overseas parent companies are funded.
The EU fears this will fragment global capital markets and its financial services commissioner Michel Barnier said big European banks were as well-capitalized as American banks.
“I don’t want to be forced to do the same as the Americans,” Barnier told reporters on the sidelines of a British Bankers’ Association conference in London. …
(Excerpt) Read more at reuters.com ...
the US is spending far too much $$ propping up the EU banks.
They don’t care, it’s not their money.
In December, Federal Reserve Board Governor Daniel Tarullo said foreign banks should be required to hold as much capital as their U.S. counterparts, regardless of how their overseas parent companies are funded.Gosh, it's almost as if the EU doesn't want to be held accountable by the laws of other nations. Now they know how we feel.
So the EU wants a tit for tat war. Well, I’ll take “Tit” for $1,000. They can have “Tat” for $100.
I’ll keep you all abreast of the situation and tell you what is happening at the front.
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