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Central bank wants EU to revise IPU threshold

China's central bank said on Tuesday it hoped European Union authorities would reconsider proposed rules on a threshold of 30 billion euros ($37.3 billion) needed to set up an Intermediate Parent Undertaking. It also asked the EU Council to reconsider its rules and not to include the total assets of branches at non-EU financial institutions in their calculations on the setting-up of an IPU. The joint letter, issued by the People's Bank of China and China Banking Regulatory Commission, was in response to suggestions from the EU Council in November.