The legislative package on reducing financial risks tabled by the European Commission in November 2016 (see EUROPE 11674), which has been the source of many differences of opinion in Europe, has also attracted criticism from the other side of the Atlantic.
In a letter to the American Secretary of the Treasury, Steven Mnuchin, on Tuesday 31 October, two of the largest American banking lobbies express grave concerns at the 'banking resolution' plank of the package, criticising the...