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Buba VP Says Fed Banking Proposals Not Helpful

Germany's top banking supervisor urged the U.S. to abandon its insistence on forcing big foreign banks to operate through separately capitalized subsidiaries, warning it could trigger a chain reaction in Europe and other jurisdictions that could fragment world financial markets."If one starts with renationalization, others will follow. The danger will increase that everybody makes their own laws," Sabine Lautenschlaeger, vice president of the Deutsche Bundesbank, said in an interview with Dow Jones Newswires, conducted Thursday.Ms. Lautenschlaeger's comments are part of a growing European pushback against U.S. measures proposed in December implementing the Dodd-Frank Wall Street Reform and Consumer Protection Act, which would force foreign banks to hold more liquidity and capital with their U.S. subsidiaries.The proposals embody the way that Congress has extended its reach beyond the U.S. in its attempts to clamp down on risky banking since the crisis. Under it, foreign banks would be ...

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  1. Deutsche Bundesbank VP: Fed Proposals on Foreign Banks Not Helpful for Supervision

    Germany's top banking supervisor urged the U.S. to abandon its insistence on forcing big foreign banks to operate through separately capitalized subsidiaries, warnin...

  2. Rogers on Scandals: Press Needs to Step Up

    Wayne Rogers & Co. chairman Wayne Rogers sounds off on the IRS scandal and ObamaCare.

  3. LONDON MARKETS: U.K. Stocks Slide As Miners, Banks Decline

    U.K.'s FTSE 100 index dropped on Friday, with mining firms adding pressure as metals prices turned south and with banks extending the prior day's losses.The FTSE 100...

  4. EUROPE MARKETS: Europe Stocks End Choppy Week 1.7% Lower

    European stock markets added to the prior day's sharp losses Friday, tracking stocks lower in the U.S., with better-than-expected economic data failing to offset con...

  5. LONDON MARKETS: U.K. Stocks Slides As Miners, Banks Decline

    U.K.'s FTSE 100 index dropped on Friday, with mining firms adding pressure as metals prices turned south and with banks extending the prior day's losses.The FTSE 100...

  6. EUROPE MARKETS: Europe Stocks Head For 1.8% Weekly Loss

    European stock markets added to the prior day's sharp losses on Friday, tracking stock futures lower in the U.S,. where investors grew cautious ahead of the long wee...

  7. EUROPE MARKETS: Europe Stocks Fall With U.S. Futures Ahead Of Data

    European stock markets dropped on Friday, adding to the prior day's sharp losses, as investors looked to the U.S., where stock futures pointed to a lower open ahead ...

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