Contrary to predictions by some observers that foreign banks will cut back on their U.S. lending in the face of renewed competition from U.S. banks, Credit Lyonnais executive vice president Robert A. Cohen said foreign banks will continue to play an important role in U.S. corporate finance.

"U.S. corporations that saw their banks leave them during the credit crunch found themselves in trouble if they didn't have European institutions to support them," he said.

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