Arab Today, arab today british banking ringfence \needs electrification\
Last Updated : GMT 19:23:53
Arab Today, arab today
Arab Today, arab today

British banking ring-fence \'needs electrification\'

Arab Today, arab today

Arab Today, arab today British banking ring-fence \'needs electrification\'

London - AFP

Reform of Britain\'s banks should go further to ensure a total ring-fencing of their retail and investment arms, a government commission set up after the Libor scandal said in its first report on Friday. The chairman of the Parliamentary Commission on Banking Standards, Conservative lawmaker Andrew Tyrie, said the ring-fence needed to be \"electrified\" for it to be effective. The government has published draft legislation to ring-fence retail banking and the more risky investment banking arms by 2019 in a bid to avoid taxpayers having to bail out troubled banks as was the case during the financial crisis. But Tyrie said \"the proposals, as they stand, fall well short of what is required\". \"For the ring-fence to succeed, banks need to be discouraged from gaming the rules. All history tells us they will do this unless incentivised not to,\" he added. \"That\'s why we recommend electrification. The legislation needs to set out a reserve power for separation; the regulator needs to know he can use it.\" The commission\'s concerns put it at loggerheads with finance minister George Osborne, who last month urged it not to \"unpick\" a consensus on structural reform of the banking sector. The parliamentary commission was set up in the wake of revelations earlier this year that Barclays tried to manipulate the Libor rate, which is used as a benchmark for global financial contracts worth about $300 trillion.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today british banking ringfence \needs electrification\ Arab Today, arab today british banking ringfence \needs electrification\

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today british banking ringfence \needs electrification\ Arab Today, arab today british banking ringfence \needs electrification\

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday