Holdco wars: Asia may retaliate against EU plan
European holding company requirements for foreign banks threaten tit-for-tat response
The signals are clear. The authorities in Asia have stepped up their indignant response to European Union proposals that would force large foreign banks to set up holding companies to consolidate their activities in the region. Chinese and Japanese banking regulators have issued implicit threats to roll out mirroring measures in retaliation.
The US is opting for carrot rather than stick, with lawmakers potentially set to offer a conciliatory gesture to Europe by proposing a relaxation of US
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