PwC warns banks to hold more assets in subsidiaries

PwC warns banks to hold more assets in subsidiaries

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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