Regulators relax rules for some foreign banks

US - Federal regulators are easing the rules for some foreign banks operating in the US, freeing up about $1.6bn (Euros 1.8bn, £1.1bn) in assets and reducing some administrative costs.

The changes affect 52 US branches of foreign banks, which include UBS of Switzerland, Bayerische Landesbank of Germany, Bank of Scotland, Royal Bank of Canada, National Australia Bank, Hong Kong's Bank of East Asia and the Bank of China.

The banks operate US branches under a federal charter, meaning they are regu

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