UK banking reform’s next chapter

Author: | Published: 24 Jan 2013

Late last year the UK's Parliamentary Commission on Banking Standards threw the Vickers ringfencing proposals into doubt.

The Commission, which was set up in the wake of the London Interbank Offered Rate (Libor) scandal, recommended reforms that instead called for the 'electrification' of the ringfence, which would reserve the power to force the full separation of banks' retail and investment arms.

But the Chancellor of the Exchequer, George Osborne, has warned against 'unpicking the consensus' on Vickers by resurrecting the notion of a return...