European banks with major investment banking presences in the US could be better off spinning out their US arms entirely rather than complying with the arduous regulations that foreign firms will have to meet from mid-2016, according to lawyers. The Federal Reserve will require all foreign firms with more than US$50bn of assets in their US businesses to capitalise those units on a standalone basis, forcing affected international banks to consider if it is worthwhile even operating on a trans-Atlantic platform.
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