UK to review bank rules as London looks for post-Brexit boost
Britain launched on Tuesday an independent review of banking capital and proprietary trading rules that is set to pit banks against their regulator as London’s powerful financial industry looks to boost its global competitiveness after Brexit.
Since the start of 2019, Britain requires HSBC, Barclays and other banks to “ring-fence” the retail arms of their operations with capital to shield them from any losses in their riskier, investment banking arms, after taxpayers had to bail out lenders during the financial crisis.
Proprietary trading refers to banks using their own money to take bets on stocks, bonds and other assets on their own account rather than trading on behalf of a client.
London’s financial industry looks to boost global competitiveness
20 Apr 2021 The City of London financial district can be seen as people walk along the south side of the River Thames on Tuesday. Britain launched on Tuesday an independent review of banking capital and proprietary trading rules that is set to pit banks against their regulator as London’s powerful financial industry looks to boost its global competitiveness after Brexit.
Since the start of 2019, Britain requires HSBC, Barclays and other banks to “ring-fence” the retail arms of their operations with capital to shield them from any losses in their riskier, investment banking arms, after taxpayers had to bail out lenders during the financial crisis.
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LONDON (Reuters) - A digital pound must be at the heart of Britain’s efforts to strengthen the City of London’s global attraction as a financial centre after Brexit, think-tank CityUnited Project said on Friday.
FILE PHOTO: Wads of British Pound Sterling banknotes are stacked in piles at the Money Service Austria company s headquarters in Vienna, Austria, November 16, 2017. REUTERS/Leonhard Foeger/File Photo
The finance ministry is due to set out proposals for making Britain’s capital market more attractive after Amsterdam toppled London to become Europe’s top share trading centre after the City was cut off from the European Union on Dec. 31.
Digital pound would boost post-Brexit City of London, think-tank says marketscreener.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from marketscreener.com Daily Mail and Mail on Sunday newspapers.