Banks live globally but die locally.
Sir Mervyn King, chairman, International Integrated Reporting Council1
Generally speaking, U.S. financial institutions have been much more heavily regulated …than have their foreign counterparts.
Scott Besley and Eugene F. Brigham, Principles of Finance (2012)2
Cross-border bank M&A transcends the mere buying and selling of banks across national boundaries. It forms an integral part of a vast and complex global financial system epitomizing the best and worst of free enterprise today. On the positive side, global banking networks can raise large amounts of capital for worthy transactions with near-lightning speed. At the same time, this very power to do global business quickly ...