U.S. Regulators Step Up Scrutiny of European Banks, WSJ Reports
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U.S. regulators are stepping up scrutiny of local operations for Europe’s largest banks on concern that the region’s sovereign debt crisis may lead to funding problems, the Wall Street Journal reported today.
The Federal Reserve Bank of New York has been holding talks with the lenders and sought information about their access to funds to maintain operations in the U.S., the Journal said, citing people it didn’t identify. The regulator has also been asking some lenders to overhaul their structure, it said.