Chancellor to show support for retail banks to be ring-fenced

| June 15, 2011 | 0 Comments

In his Mansion House speech this evening, Chancellor George Osborne is expected to confirm that banks will have to ring-fence their retail operations so they are protected from losses from investment banking.

The Chancellor is also expected to suggest that banks will have to hold more capital – a recommendation of the Independent Commission on Banking (ICB) in its interim report in April.

The ICB is set to deliver its final report in mid-September.

Furthermore, Mr Osborne will announce plans to sell-off state-owned Northern Rock. The crisis-torn bank has been split into divisions - a “good bank” of profitable assets and a “bad bank” of toxic debts.

Tags: , capital, , , , , , , , , ,

Comments (0)

Trackback URL | Comments RSS Feed

There are no comments yet. Why not be the first to speak your mind.

Leave a Reply

Visited 1093 times, 6 so far today