U.K. FSA Said to Quiz Banks About U.S. Swap Registration
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Britain’s Financial Services Authority, concerned that proposed new rules across the Atlantic may limit its powers, began quizzing firms last week on their plans to register as swaps dealers in the U.S., according to two people familiar with the talks.
The British agency’s role in setting capital levels may be limited for non-U.K. banks with substantial operations in London if those lenders register as swap dealers in the U.S., according to one of the people, who declined to be identified because the talks are private.