Net profits from the multinational banks are just a sliver of the industry total, maxing out at 1%.

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The risk profile is very different to that of some big multinational banks.

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So, if the trends discussed are the outcome of deliberate choices by multinational banks, what is the implication for policy?

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Doing so would provide better supervision on global activities of multinational banks.

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However, that is not so of the long-term threat to cross-border capital flows: the changes that regulators make to the landscape for multinational banks, especially in Europe.

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To many of the biggest multinational banks around the world, "Asian banks don't hold the attraction that opportunities closer to home do, " says John Hobson, regional bank analyst at CS First Boston in Hong Kong.

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So do institutional investors such as banks, multinational corporations and central banks that need to hedge against foreign currency value fluctuations.

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The smelter, to be built by Norwegian multinational Norsk Hydro and a consortium of Icelandic banks, is expected to give a good return to its investors if forecast increasing global demand for aluminium exports materializes.

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Speaking at the Ambrosetti Forum on the banks of Lake Como, Beccalli-Falco told CNN that General Electric -- a multinational founded in 1892 -- is "making a lot of investments" in Germany.

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