…as King calls again for total banking split

first_img Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap Show Comments ▼ whatsapp whatsapp BANK of England governor Mervyn King called again yesterday for radical reform in the banking sector that would see some large institutions dismantled. King used a speech in New York to outline several options for the industry, including a capital ratio far above the levels set by the Basel III agreement last month, and a complete separation of retail and investment banking to eliminate what he described as financial alchemy. “If there is a need for genuinely safe deposits the only way they can be provided, while ensuring costs and benefits are fully aligned, is to insist such deposits do not coexist with risky assets,” King said in his Bagehot Lecture at the Buttonwood Gathering. He said Basel III should be complemented by a “basket of different measures” to rein in risk-taking. “In the area of financial stability, it makes sense to have both belt and braces,” he added. He dismissed claims in the industry that the nine-year timetable for implementing the Basel III capital rules was too quick, and warned that the international rules were not a silver bullet. “If it is a giant leap for the regulators of the world, it is only a small step for mankind. Basel III on its own will not prevent another crisis,” he said. Monday 25 October 2010 8:31 pm center_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesGardensTricks.comDon’t Throw Away Your Teabags Yet, This is Genius!GardensTricks.comMedical MattersThis Picture Shows Who Prince Harry’s Father Really IsMedical MattersHealth.recetasget5 Common Cancer Signs to Pay Attention ToHealth.recetasgetTheFashionBallPrince Harry Has Changed His Mind About Meghan MarkleTheFashionBallFinancialAdvisorHeroesSean Hannity New Girlfriend Might Look Familiar To YouFinancialAdvisorHeroes Tags: NULL KCS-content …as King calls again for total banking split Sharelast_img

Leave a Reply

Your email address will not be published. Required fields are marked *