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<p>Following publication of the proposal on 23<sup>rd</sup> November, we are performing
analysis to evaluate the impact of these rules. How much the proposals might affect
individual EEA groups operating in the UK would depend on their particular group structure.</p><p>
</p><p>The rules are not final, but are the starting point for negotiations. The proposals
will be taken forward in Council and the European Parliament, and the UK will continue
to engage fully in that process, where we will robustly defend Britain’s interest.</p><p>
</p><p>The UK already requires that subsidiaries of large foreign financial firms
in London are well capitalised, meeting local capital and liquidity requirements.</p>
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