European Banks Spend Billions to Get U.S. Units Fit for FedBy
Firms must group U.S. units under one umbrella by Friday
New rule will also trap capital, liquidity in the U.S.
Deutsche Bank AG, Barclays Plc and 11 other foreign banks have spent several billion dollars in the past three years complying with a new Federal Reserve rule that will trap capital in the U.S. and boost costs.
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