The Bank of England is looking at plans to force more international banks to set up subsidiaries in the UK, The Financial Times reported on Tuesday (July 4). The BOE is considering the plan as a part of a review of the collapse earlier this year of US bank Silicon Valley Bank, the newspaper reported, citing people familiar. The move could reduce the thresholds requiring foreign banks with corporate business in the country to set up subsidiaries, the paper said. It noted that subsidiaries, such as SVB had in London, are easier for local regulators to seize control of in case of failure.

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