PwC warns banks to hold more assets in subsidiaries

04/15/2009 | Financial Times (free content)

PricewaterhouseCoopers, the administrator for Lehman Brothers' European operations, said international banks should increase assets held in subsidiaries to avoid a repeat of the turmoil caused by Lehman's collapse. Meanwhile, the U.K. Financial Services Authority is advocating a series of proposals that would require British subsidiaries to hold more assets. Banks are concerned that the requirements would hurt their competitiveness and tie up capital.

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