Posts Tagged ‘Financial Services Reform’

The Vickers report – what’s the impact for consumers?

Broadly speaking, there were two parts to this week’s interim report from the Independent Commission on Banking. The first focused on how best to avoid another cascade failure of the banking system, which would likely place the onus on the government to bail out failing banks in order to avoid system-wide collapse – as happened in 2008. The proposals to tackle this are twofold: One, create distinct ‘firewalls’ between retail and investment operations in UK banks; Two, increase the ratio of capital held to lending issued in the retail part of banks.

Sir John Vickers - published his interim report on the future of banking in the UK this week

Judging by the rise in the share price of UK banks after the report was released, the view from the City seems to be that these recommendations are less onerous than might have been expected (though as the Independent’s Andrew Grice noted, the balance of squealing from both sides showed that Vickers may well have got it just about right).

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FPS’ Friday Fiver

Hello All! And welcome to our brand new, dedicated Financial Services blog from our FPS team here at H&K. This blog will cover all things related to finance, money, the economy, politics, consumer trends and probably a bit of humour along the way. We hope you enjoy reading it and look forward to your comments.

In the meantime, here’s this week’s Friday Five with contributions from Ed, Ross and Marie.

George Osborne's Budget has generally been well received, but more pain lies ahead

Two days on from the Budget…There’s always a mad rush to get initial reaction out on Budget Day. Two days on though, where do we stand? Our initial reaction remains largely the same – George Osborne delivered a Budget for business and one designed for growth. The question though is at what cost.

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