The German government proposed legislation earlier this year that would impose a reciprocity requirement on foreign banks.

Ironically, the legislation is intended to implement the Second Banking Directive of the European Community, even though it constitutes a substantial deviation from the community's decision in 1989 to accept a national-treatment standard.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.