Disjointed regulation could spell end of global banking era

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Global banks are facing increasingly serious challenges in maintaining their cross-border operations, as jurisdictions create complex and incompatible regulation, a report published today by Morgan Stanley and Oliver Wyman has found.

The report said markets have yet to "get to grips" with the forces fracturing global wholesale banking, predicting a 2–3 percentage point drag on the return on equity (RoE) as a result of regulatory 'balkanisation'. "Regulators seeking to reduce the interdependence

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