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In Banking, There’s No Such Thing as Too Far Away to Fail: View
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According to a new Bloomberg Government , as many as 100 financial firms with non-U.S. owners will be subject to new rules intended for systemically important institutions, or those whose failure could rock the whole financial system.
That means 79 percent of all the firms that are likely to have to limit proprietary trading and have larger capital cushions, to name two rules, will not be American owned. This is an entirely good thing.