Banks anxious over Fed regulations

Banks anxious over Fed regulations Wall Street banks are warning they may have to cede much of the European derivatives market to the likes of Deutsche Bank and Barclays Capital if US regulators follow through on proposals to apply new regulations extraterritorially.

The Federal Reserve and other banking regulators recently proposed rules that would force the non-US arms of US banks to collect collateral, or “margin” in the form of cash or securities, “without regard to whether the counterparty is located inside or outside the United States”.
http://link.ft.com/r/UXDMSS/OJE0KQ/YHT6RI/S3QZ6L/HDMJWB/SN/h?a1=2011&a2=5&a3=3