Of the many things that keep financial regulators awake at night, perhaps the most alarming prospect is the collapse of a sprawling international bank with local operations. "The one thing they don't want to be blamed for is if a big foreign bank blows up in their market," says a senior executive at just such a bank. The anxiety is natural. Huge progress has been made since the financial crisis in making banks safer in general, and in giving authorities the tools they need to deal with the collapse of even very large domestic banks.
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