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Big banks see need to shrink but face path of obstacles

They worry that any major restructuring could go wrong because of the way post-financial crisis rules are applied

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Mr Kashkari criticised Dodd-Frank's so-called "living will" rule, which requires banks to show how they can be dismantled in an orderly way if they fail, without creating risk to the financial system.

London

WHEN the US Federal Reserve's newest policymaker Neel Kashkari dropped a bombshell with a call to break up big banks on Tuesday, it was met with a predictably indignant response from their lobbyists. One described his comments as "blind". But while no one in the executive suites of

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