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To Rip Asunder; Bank Reform
Oleh:
[s.n]
Jenis:
Article from Bulletin/Magazine
Dalam koleksi:
The Economist (http://search.proquest.com/) vol. 400 no. 8751 (Sep. 2011)
,
page 49-50.
Topik:
Investment Banking
;
Politics
;
Retail Banking
;
Regulation
Ketersediaan
Perpustakaan Pusat (Semanggi)
Nomor Panggil:
EE29.68
Non-tandon:
1 (dapat dipinjam: 0)
Tandon:
tidak ada
Lihat Detail Induk
Isi artikel
London's financial sector may contribute only a few percentage points of Britain's total economic output, but it defines the country, and its sense of prosperity, in much the same way that cotton mills and trading ships once did. The financial crisis, when Britain experienced its first bank run in more than a century, and two of its four biggest banks had to be partly nationalised, was humbling. Both the public and politicians demanded radical change. This week the shape of that change became clearer with the release of a report by the Independent Commission on Banking (ICB), which urged the government to impose a "ring-fence": a strict separation between the retail and investment-banking operations of Britain's banks. The commission, chaired by Sir John Vickers, an independent-minded economist, also called for a big increase in the amount of capital held within these ring-fenced banks as a buffer against losses. The commission was set up by the coalition government last year.
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