Maybe the first bank chief to comment about proposed new rules on foreign banks operating in the...

|By:, SA News Editor

Maybe the first bank chief to comment about proposed new rules on foreign banks operating in the U.S., Royal Bank of Canada (RY) CEO Gordon Nixon says they will have "no impact whatsoever." Stonecap's Brad Smith disagrees, saying all Canadian banks will have to reconsider their business lines as the rules would likely raise the amount of capital necessary to operate.