This paper analyzes the international controversy surrounding the U.S. effort to regulate cross-border banks in the aftermath of the global financial crisis. It proceeds as a case study of the Federal Reserve's enhanced prudential standards for large banking organizations, implemented in 2014...

The World Financial Crisis has shaken the fundamentals of international banking and triggered a downward spiral of asset prices. To prevent a further meltdown of markets, governments have intervened massively through rescues measures aimed at recapitalizing banks and through liquidity support....

Banks have progressively evolved from being standalone institutions to being subsidiaries of increasingly complex financial conglomerates. We conjecture and provide evidence that the organizational complexity of the family of a bank is a fundamental driver of the business model of the bank...

Nine foreign banks own the ten largest U.S. affiliates or subsidiaries of foreign banks. These account for 86% of the assets in affiliates and subsidiaries. Their histories suggest that most now represent an attempt by the parents to grow outside the confines of home markets. Original motives...