Japanese Banks’ N.Y. FX Expansion Slows Plans Sidelined By Tokyo Capital Drain?
BANKS
The large U.S. money center banks haven’t had much to smile about lately but news that the Japanese banks are moving more slowly than anticipated to expand their foreign exchange activities in the United States may ease the pain. Earlier this year, a number of Japanese banks indicated that they would at least double the size of their New York foreign exchange operations. Since then, those ambitious goals have given way to a more incremental approach.
At Fuji Bank, plans announced last spring to
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