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المحرر موضوع: UK Banks Urged to Protect Retail Operations  (زيارة 1791 مرات)

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UK Banks Urged to Protect Retail Operations
« في: يوم 13-04-2011 , س 23:37:19 pm »
UK Banks Urged to Protect Retail Operations



Banks should protect their retail operations from investment arms to avoid repeat of financial crisis, panel recommends.
A British commission has recommended that the country’s banks ring fence their retail operations from investment activities in an effort to avoid another financial crisis, Aljazeera reported.
In a preliminary report released on Monday, the Independent Commission on Banking (ICB) said such a move would protect taxpayers from the sector’s risk-taking arm without forcing the banks to split into separate entities.
“We believe that you can get adequate protection of the retail side with lower cost to the system as a whole with the retail ring-fence idea,” John Vickers, chairman of the commission, told BBC radio.
The commission, which was tasked by the government last June to review the country’s banking system, also said the retail operations of British banks should hold greater resources of capital in case of any future economic crisis.
The global financial crisis hit Britain’s banks hard, resulting in the nationalization of Northern Rock and state rescues of the Royal Bank of Scotland and Lloyds Banking Group.
The preliminary report aims to find ways to avoid another catastrophic failure of a financial system dominated by a few large banks often considered to be too big to be allowed to fail.
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