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Banks Reassess Exposure to China Amid Rising Tensions: Sources


01 Apr 2019

Amid rising geopolitical tensions and the prospect of new sanctions, global banks with U.S. operations are taking another look at their connections to China, according to sources reporting to ACAMS Morrison & Foerster National Security co-chair and former Director of the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC), reacts to concerns that U.S. officials have stressed regarding risks of exposure to Chinese entities in discussions with global financial institutions.

“They won’t say ‘Don’t deal with China,’ they’ll say ‘Be cautious in dealing with China,'” Smith said. “It doesn’t give you much to go on.”

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