BANKING
From Times Staff and Wire Reports
U.S. Assets of Foreign Banks Hit a Plateau: U.S. assets of foreign banks remained flat in the first half of this year, ending nearly two decades of growth--often at double-digit rates, the Federal Reserve said. The turnaround reflects a decision by Japanese banks to pull back in U.S. markets. U.S. assets of Japanese banks fell 6%, or $25.8 billion, to $402.1 billion, while the assets of other foreign banks--mainly big European institutions--rose 6%, or $25.7 billion, to $458.5 billion.
