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Fed Makes Foreign Banks Pay to Play

"The Federal Reserve hit foreign banks operating in the U.S. with new rules meant to force many to hold more capital. It is a significant move, even if the Fed did pull a punch or two.

"Foreign banks had fought the proposed rules, a final version of which the Fed approved Tuesday. Among those expected to be most affected are Germany's Deutsche Bank and Barclays of the U.K., due to their sizable U.S. capital-markets operations.