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		</div><p>The EU is planning to introduce new rules for foreign banks in a move which could add to financial firms&#8217; Brexit worries.</p>
<p>The European Commission is set to unveil proposals tomorrow which are similar to the <i>&#8220;intermediate holding company&#8221;</i> rules introduced in the US, according to The Financial Times.</p>
<p>Investment banks from outside the EU would be required to hold additional capital and meet tougher liquidity requirements to safeguard against future financial shocks.</p>
<p>When the US originally introduced these measures it was accused of protectionism by European officials.</p>
<p>This is likely to make the cost of doing business higher for financial firms who remain in the UK following Brexit &#8211; although the financial paper reports that officials say these rules were not developed with Brexit in mind.</p>
<p>Europe&#8217;s move could be part of a broader fragmentation and localisation of financial rules.</p>
<p>It comes at a time when EU/US relations have been strained by the US Department of Justice&#8217;s seeking of a $14bn payout from Deutsche Bank relating to its packaging and selling of mortgage-backed securities. It could lead to a further escalation in trans-Atlantic tensions at a time when Donald Trump&#8217;s election victory is already creating uncertainty.</p>
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