EU's Barnier warns U.S. of tit-for-tat action over banks

Reuters

LONDON, Oct 17 (Reuters) - The European Union could end upimposing tighter supervision over U.S. lenders if the UnitedStates pursues plans to impose extra capital rules on foreignbanks, the EU's financial services chief said on Thursday.

The EU is annoyed with U.S. plans to impose tougher capitaland liqudity requirements on foreign lenders, a step the blocsays is unfair.

"I don't want to be forced to do the same as the Americans,"Michel Barnier told reporters on the sidelines of a BritishBankers' Association conference.

"My objective is to find agreement with the Americans onforeign banks. My mindset is not one of threats but my objectiveis to find a free and fair banking relationshiop. If we don'tfind such an agreement, we will end up having to do the samething," Barnier added.

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