歐盟擬收緊對海外銀行監管

Brussels is proposing to tighten its grip over overseas banks operating in the EU in a tit-for-tat step against the US that will raise costs for big foreign lenders and potentially hurt the City of London after Brexit.

布魯塞爾提議收緊對在歐盟經營的海外銀行的監管，此舉是針對美國提高外國大型銀行成本的報復措施，在英國退歐之後也可能打擊倫敦金融城。

The European Commission will disclose provisions tomorrow that mirror controversial US intermediate holding company rules ringfencing foreign bank capital.

歐盟委員會(European Commission)將於明日披露的規定與有爭議的美國中介控股公司規則（要求圈護外資銀行資本）如出一轍。

When those were anno¬u¬nced in 2014, the EU complained to Wash¬ington of protectionism and threatened to retaliate.

當2014年美國宣佈這些規則的時候，歐盟指責華盛頓推行保護主義，並威脅要進行報復。

If adopted in EU law, the commission proposals would force big US investment banks such as Goldman Sachs and JPMorgan to trap add¬itional capital and liquidity in the EU so their subsidiaries can be separately wound up in a crisis by European authorities.

如果這些提議成爲歐盟法律，它將迫使高盛(Goldman Sachs)和摩根大通(JPMorgan)等美國大型投行在歐盟保留額外的資本和流動性，讓歐洲當局能夠在危機中將它們的子公司單獨清盤。

The counterblow from Brussels, slipped into late drafts of the proposal, will be welcomed by EU banks that complain of an unlevel playing field with US rivals.

布魯塞爾的反擊被納入相關提案的後期版本，它將受到抱怨與美國競爭對手處於不公平競爭環境的歐盟銀行的歡迎。

But it underlines the accelerating trend towards fragmentation in financial rules, as jurisdictions assert control even at the risk of duplicating international requirements.

但它也突顯出，金融規則碎片化趨勢日益加速，因爲各司法管轄區競相施加控制，即使有重複國際要求的風險也在所不惜。

Although EU officials insist the proposal was drafted without Brexit in mind, the reforms would potentially affect London as a non-EU financial ¬centre.

儘管歐盟官員堅稱，起草提案時沒有考慮英國退歐問題，但這些改革潛在將會影響倫敦作爲非歐盟金融中心的地位。

The proposal could add costs and complexity to UK-based banks by forcing them to establish a separate pool of capital in the EU after the country leaves the bloc.

在英國退出歐盟後，該提議可能會迫使總部位於英國的銀行在歐盟設立單獨的資本池，從而增添它們的成本和複雜性。

This is a taste of what is to come, said one adviser to an investment bank caught up by the rules.

一家受到規則影響的投行的顧問表示：這只是開始。

At a time when everyone is rethinking bank structures, it adds one more point of uncertainty.

在各方重新考慮銀行架構之際，它增加了又一個不確定性。

The move is likely to stoke tension between the US and Europe ignited by a $14bn claim on Deutsche Bank from the US Department of Justice to settle claims of mis-selling mortgage securities.

此舉可能加劇美國與歐洲的緊張關係，此前德意志銀行(Deutsche Bank)被美國司法部罰款140億美元以了結針對其違規銷售抵押貸款證券的調查，從而讓美歐關係緊張起來。

US banks say that they are already forced to hold significant amounts of capital and liquidity in their large UK operations.

美國的銀行表示，它們已經被迫在規模很大的英國業務中持有了大量的資本和流動性。

But if Europe presses ahead with the latest proposals it could force them to increase the amount of resources they have tied up in Europe.

但如果歐洲推進最新提議，就可能迫使它們增加投放於歐洲的資源數量。

The measures are part of a package of reforms that Valdis Dombrovskis, the EU vice-president overseeing financial services, will bring forward tomorrow.

這些措施是歐盟負責金融服務的副主席瓦爾蒂斯.東布羅夫斯基斯(Valdis Dombrovskis)將於明日提出的改革方案的一部分。

The holding-company requirements are included in revisions to the capital requirements directive, which introduce rules intended to prevent banks from becoming too big to fail.

控股公司要求被包括在《資本要求指令》(Capital Requirements Directive)的修訂版當中，後者推出了旨在阻止銀行過大而不能倒閉的規則。

These include a measure, known as total loss absorbing capacity, that aims to force the very biggest banks to fund themselves through equity and hybrid debt that can absorb losses in a crisis.

這些規則包括名爲總虧損吸收能力(TLAC)的措施，它的目的是迫使最大銀行通過股權和混合債務爲自己提供融資，從而可以在危機中吸收虧損。

Drafts seen by the Financial Times in effect extend TLAC requirements to subsidiaries of non-EU banks that are globally systemic or those with total assets of more than EURO30bn.

英國《金融時報》看到的草案實際上將TLAC要求延伸至具有全球系統重要性的非歐盟銀行的子公司，或者那些總資產超過300億歐元的銀行。