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

LONDON Thu Oct 17, 2013 6:05am EDT

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

The EU is annoyed with U.S. plans to impose tougher capital and liqudity requirements on foreign lenders, a step the bloc says 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 British Bankers' Association conference.

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

FILED UNDER:
A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

Find your dream retirement town

Florida? Hawaii? Reuters has teamed up with Zillow to give you the power to customize a list of your best places to retire.  Video | Full Article