Independent Commission On Banking Final Report

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Independent Commission on Banking final report

Author : Independent Commission on Banking
Publisher : The Stationery Office
ISBN 13 : 9780108510984
Total Pages : 364 pages
Book Rating : 4.5/5 (19 download)

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Book Synopsis Independent Commission on Banking final report by : Independent Commission on Banking

Download or read book Independent Commission on Banking final report written by Independent Commission on Banking and published by The Stationery Office. This book was released on 2011-09-13 with total page 364 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Independent Commission on Banking's final recommendations aim to create a more stable and competitive basis for UK banking for the long term. The result would be a banking system that is much less likely to cause, or succumb to, financial crises and the huge costs they bring; is self-reliant, so that the taxpayer does not have to bear the losses that banks make; and is effective and efficient at providing the basic banking services of safeguarding retail deposits, operating secure payments systems, and efficiently channelling savings to productive investments in the economy. Stability is crucial and UK banks should have more equity capital and loss-absorbing debt - beyond what has so far been internationally agreed - and their retail banking activities should be structurally separated, by a ring-fence, from wholesale and investment banking activities. The Commission also address competition, which has not been properly effective in UK retail banking. They recommend a seamless switching system based on redirection for personal and small business current accounts, free of cost and risk, complemented by measures to enhance transparency. The new Financial Conduct Authority should have a clear duty to promote effective competition. Structural reform should be complete by the Basel implementation date of 2019 at the latest. These reforms would result in better-capitalised, less leveraged banking more focused on the needs of savers and borrowers in the domestic economy. At the same time UK banks would be free to flourish in global markets, but without UK taxpayer support.

The Government response to the Independent Commission on Banking

Author : Great Britain: H.M. Treasury
Publisher : The Stationery Office
ISBN 13 : 9780101825221
Total Pages : 82 pages
Book Rating : 4.8/5 (252 download)

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Book Synopsis The Government response to the Independent Commission on Banking by : Great Britain: H.M. Treasury

Download or read book The Government response to the Independent Commission on Banking written by Great Britain: H.M. Treasury and published by The Stationery Office. This book was released on 2011-12-19 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: In its final report the Independent Commission on Banking (ICB) recommended a package of measures, consisting of ring-fencing vital banking services and increasing banks' loss-absorbency. The Government strongly supports the ICB's objectives and dual approach. The Government agrees that vital banking services - in particular, the taking of retail deposits - should only be provided by 'ring-fenced' banks', and that these banks should be prohibited from undertaking certain investment banking activities. On increased loss-absorbency, also supported are the ICB recommendations for higher equity requirements for large ring-fenced banks, a minimum leverage ratio, loss-absorbing debt, insured depositor preference and higher levels of loss-absorbing capacity for banks that are difficult to resolve. With regards to the principle that systemically important banks hold a minimum about of loss-absorbing capacity on a group-wide basis, however, the requirement should not apply to non-UK operations where it can be shown that those operations to do not pose a risk to UK financial stability. The Government also believes that depositor preference needs further analysis and consultation. On competition, the Government also strongly supports all the ICB recommendations. The Government estimates the aggregate private costs to UK banks at £3.5bn - £8bn, producing a gross reduction in GDP of £0.8bn - £1.8bn. Against these costs though should be set the potentially much larger benefits with the ICB's recommendations yielding an estimated incremental economic benefit of £9.5bn per annum. Significantly too the Government wants to see relevant legislation completed by the end of this Parliament in May 2015 as opposed to the ICBs recommended 2019

Independent Commission on Banking Final Report

Author : Great Britain: Parliament: House of Commons: Treasury Committee
Publisher : The Stationery Office
ISBN 13 : 9780215050649
Total Pages : 188 pages
Book Rating : 4.0/5 (56 download)

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Book Synopsis Independent Commission on Banking Final Report by : Great Britain: Parliament: House of Commons: Treasury Committee

Download or read book Independent Commission on Banking Final Report written by Great Britain: Parliament: House of Commons: Treasury Committee and published by The Stationery Office. This book was released on 2012-11-12 with total page 188 pages. Available in PDF, EPUB and Kindle. Book excerpt: Incorporating HC 1534, session 2010-12

Final Report

Author : Independent Commission on Banking (Great Britain)
Publisher : Anchor Books
ISBN 13 : 9781845328290
Total Pages : 358 pages
Book Rating : 4.3/5 (282 download)

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Book Synopsis Final Report by : Independent Commission on Banking (Great Britain)

Download or read book Final Report written by Independent Commission on Banking (Great Britain) and published by Anchor Books. This book was released on 2011 with total page 358 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Independent Commission on Banking Interim Report

Author : Great Britain. Independent Banking Commission
Publisher :
ISBN 13 : 9780108510564
Total Pages : 210 pages
Book Rating : 4.5/5 (15 download)

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Book Synopsis Independent Commission on Banking Interim Report by : Great Britain. Independent Banking Commission

Download or read book Independent Commission on Banking Interim Report written by Great Britain. Independent Banking Commission and published by . This book was released on 2011-04-11 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Interim Report sets out the Commission's current and provisional views on possible reforms to improve stability and competition in UK banking, and seeks responses to those views. The Commission's final report will be published in September. The financial crisis that began in 2007 exposed fundamental weaknesses in the global financial system and has had enormous economic costs in terms of lost output, higher unemployment and weakened public finances. The report covers the need for reform in the UK banking sector; current reform initiatives; reform options - financial stability; reform options - competition and consultation questions. One of the policy approaches discussed would be structural radicalism, for example to require retail banking and wholesale and investment banking to be in wholly separate firms. Another would be to be laisser-faire about structure and to seek to achieve stability by very high capital requirements across the board. The Commission believes the most effective approach is likely to be a complementary combination of more moderate measures towards loss-absorbency and structure.This Interim Report discusses three initiatives (beyond the continued application of general competition and merger law) that could improve competition. The first concerns structural measures to improve competition. Second, competition among incumbent banks, and between them and challengers, is blunted by the actual and perceived difficulties for customers switching accounts, by poor conditions for consumer choice more generally, and by barriers to entry. This Interim Report suggests that it may be possible to introduce greatly improved means of switching at reasonable cost, in which case the industry should be required to do this within a short timescale, and that barriers to entry may be able to be reduced. Thirdly, the Commission regards the Financial Conduct Authority proposed as part of the Government's reforms of the regulatory architecture as potentially a vital spur to competition in banking.

The Independent Commission on Banking

Author :
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (12 download)

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Book Synopsis The Independent Commission on Banking by :

Download or read book The Independent Commission on Banking written by and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Report on the Independent Commission on Banking's Final Report

Author : Scotland. Parliament Economy, Energy and Tourism Committee
Publisher :
ISBN 13 : 9781406177435
Total Pages : 7 pages
Book Rating : 4.1/5 (774 download)

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Book Synopsis Report on the Independent Commission on Banking's Final Report by : Scotland. Parliament Economy, Energy and Tourism Committee

Download or read book Report on the Independent Commission on Banking's Final Report written by Scotland. Parliament Economy, Energy and Tourism Committee and published by . This book was released on 2011 with total page 7 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Independent Commission on Banking

Author : Great Britain: Parliament: House of Commons: Treasury Committee
Publisher : The Stationery Office
ISBN 13 : 9780215560902
Total Pages : 136 pages
Book Rating : 4.5/5 (69 download)

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Book Synopsis Independent Commission on Banking by : Great Britain: Parliament: House of Commons: Treasury Committee

Download or read book Independent Commission on Banking written by Great Britain: Parliament: House of Commons: Treasury Committee and published by The Stationery Office. This book was released on 2011-07-22 with total page 136 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this report the Treasury Committee calls on the Independent Commission on Banking to address a number of concerns that have been raised about its proposal to ring-fence retail banking - including its effect on the competitiveness of UK banking and the cost of credit to business. The Commission should also look at how corporate governance in banks could be improved to enhance the stability of the financial system. The MPs urge the major banks to place any objections or concerns they have about the ICB proposals fully in to the public domain. A final ICB report based on private discussion and agreement with the banks rather than rigorous public scrutiny would lack public credibility and acceptability. The Committee is also concerned that the option of full structural separation of retail and investment banking has not received sufficient analysis. The ICB should provide further details as to the costs and benefits of this reform option and why it decided against full separation when proposing ring-fencing as the lead option in its interim report.

Independent Commission on Banking

Author : Lucy Malenczuk
Publisher :
ISBN 13 :
Total Pages : 4 pages
Book Rating : 4.:/5 (16 download)

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Book Synopsis Independent Commission on Banking by : Lucy Malenczuk

Download or read book Independent Commission on Banking written by Lucy Malenczuk and published by . This book was released on 2011 with total page 4 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Financial Crisis Inquiry Report

Author : Financial Crisis Inquiry Commission
Publisher : Cosimo, Inc.
ISBN 13 : 1616405414
Total Pages : 692 pages
Book Rating : 4.6/5 (164 download)

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Book Synopsis The Financial Crisis Inquiry Report by : Financial Crisis Inquiry Commission

Download or read book The Financial Crisis Inquiry Report written by Financial Crisis Inquiry Commission and published by Cosimo, Inc.. This book was released on 2011-05-01 with total page 692 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Financial Crisis Inquiry Report, published by the U.S. Government and the Financial Crisis Inquiry Commission in early 2011, is the official government report on the United States financial collapse and the review of major financial institutions that bankrupted and failed, or would have without help from the government. The commission and the report were implemented after Congress passed an act in 2009 to review and prevent fraudulent activity. The report details, among other things, the periods before, during, and after the crisis, what led up to it, and analyses of subprime mortgage lending, credit expansion and banking policies, the collapse of companies like Fannie Mae and Freddie Mac, and the federal bailouts of Lehman and AIG. It also discusses the aftermath of the fallout and our current state. This report should be of interest to anyone concerned about the financial situation in the U.S. and around the world.THE FINANCIAL CRISIS INQUIRY COMMISSION is an independent, bi-partisan, government-appointed panel of 10 people that was created to "examine the causes, domestic and global, of the current financial and economic crisis in the United States." It was established as part of the Fraud Enforcement and Recovery Act of 2009. The commission consisted of private citizens with expertise in economics and finance, banking, housing, market regulation, and consumer protection. They examined and reported on "the collapse of major financial institutions that failed or would have failed if not for exceptional assistance from the government."News Dissector DANNY SCHECHTER is a journalist, blogger and filmmaker. He has been reporting on economic crises since the 1980's when he was with ABC News. His film In Debt We Trust warned of the economic meltdown in 2006. He has since written three books on the subject including Plunder: Investigating Our Economic Calamity (Cosimo Books, 2008), and The Crime Of Our Time: Why Wall Street Is Not Too Big to Jail (Disinfo Books, 2011), a companion to his latest film Plunder The Crime Of Our Time. He can be reached online at www.newsdissector.com.

Banking Reform

Author : Great Britain. Treasury
Publisher : The Stationery Office
ISBN 13 : 9780101854528
Total Pages : 64 pages
Book Rating : 4.8/5 (545 download)

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Book Synopsis Banking Reform by : Great Britain. Treasury

Download or read book Banking Reform written by Great Britain. Treasury and published by The Stationery Office. This book was released on 2013-02-04 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: Banking reform is the second key pillar of the Government's programme for reform of the financial sector to address the weaknesses exposed by the financial crisis of 2007-09. The first pillar of this programme, reform of financial services regulation, has been legislated in the Financial Services Act that received Royal Assent in December 2012 (2012 Ch. 21, 9780105421122). The Government is now legislating to reform the structure of the UK banking system, through the Financial Services (Banking Reform) Bill (HCB 130, session 2012-13, ISBN 9780215053794) which implements key recommendations of the Independent Commission on Banking, including ring-fencing retail deposits from wholesale banking activities and depositor preference. This document accompanies introduction of the Bill and includes the Government response to the first report of the Parliamentary Commission on Banking Standards (PCBS), which conducted pre-legislative scrutiny on the draft Bill. The response explains where the Government has amended the Bill and includes and impact assessment for the Bill, along with the opinion of the independent Regulatory Policy Committee

Sound Banking

Author : Great Britain: H.M. Treasury
Publisher : The Stationery Office
ISBN 13 : 9780101845328
Total Pages : 84 pages
Book Rating : 4.8/5 (453 download)

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Book Synopsis Sound Banking by : Great Britain: H.M. Treasury

Download or read book Sound Banking written by Great Britain: H.M. Treasury and published by The Stationery Office. This book was released on 2012-10-12 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt: The final report of the Independent Commission on Banking (ICB), chaired by Sir John Vickers (2011, ISBN 9780108510984) recommended a dual approach to reform of the banking sector: ring-fencing vital banking services and increasing banks' loss-absorbency. The Government issued a consultation paper (Cm. 8356, ISBN 9780101835626) setting out how it intended to implement the Commission's recommendations. "Sound banking: delivering reform" provides an overview of responses to the consultation as well as a draft Bill and explanatory notes, ahead of pre-legislative scrutiny by the Parliamentary Commission on Banking Standards. While the draft Bill focuses on banking reform, other changes will also be brought forward. These include reform of the Payments Council and changes to the governance structure of the Financial Services Compensation Scheme, which will be included in the Bill when it is introduced to Parliament in 2013. This paper is divided into three parts: an overview of the key policy areas covered in the draft Bill; the draft Bill and explanatory notes; and annexes include the summary of responses to the consultation and the impact assessment.

The Foundations and Future of Financial Regulation

Author : Mads Andenas
Publisher : Routledge
ISBN 13 : 113504337X
Total Pages : 556 pages
Book Rating : 4.1/5 (35 download)

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Book Synopsis The Foundations and Future of Financial Regulation by : Mads Andenas

Download or read book The Foundations and Future of Financial Regulation written by Mads Andenas and published by Routledge. This book was released on 2013-11-20 with total page 556 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial regulation has entered into a new era, as many foundational economic theories and policies supporting the existing infrastructure have been and are being questioned following the financial crisis. Goodhart et al’s seminal monograph "Financial Regulation: Why, How and Where Now?" (Routledge:1998) took stock of the extent of financial innovation and the maturity of the financial services industry at that time, and mapped out a new regulatory roadmap. This book offers a timely exploration of the "Why, How and Where Now" of financial regulation in the aftermath of the crisis in order to map out the future trajectory of financial regulation in an age where financial stability is being emphasised as a key regulatory objective. The book is split into four sections: the objectives and regulatory landscape of financial regulation; the regulatory regime for investor protection; the regulatory regime for financial institutional safety and soundness; and macro-prudential regulation. The discussion ranges from theoretical and policy perspectives to comprehensive and critical consideration of financial regulation in the specifics. The focus of the book is on the substantive regulation of the UK and the EU, as critical examination is made of the unravelling and the future of financial regulation with comparative insights offered where relevant especially from the US. Running throughout the book is consideration of the relationship between financial regulation, financial stability and the responsibility of various actors in governance. This book offers an important contribution to continuing reflections on the role of financial regulation, market discipline and corporate responsibility in the financial sector, and upon the roles of regulatory authorities, markets and firms in ensuring the financial health and security of all in the future.

Consultation on Reform Options

Author : Independent Commission on Banking (Great Britain)
Publisher : Anchor Books
ISBN 13 : 9781845328672
Total Pages : 208 pages
Book Rating : 4.3/5 (286 download)

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Book Synopsis Consultation on Reform Options by : Independent Commission on Banking (Great Britain)

Download or read book Consultation on Reform Options written by Independent Commission on Banking (Great Britain) and published by Anchor Books. This book was released on 2011 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Independent Commission on Banking

Author :
Publisher :
ISBN 13 :
Total Pages : 214 pages
Book Rating : 4.:/5 (712 download)

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Book Synopsis Independent Commission on Banking by :

Download or read book Independent Commission on Banking written by and published by . This book was released on 2011 with total page 214 pages. Available in PDF, EPUB and Kindle. Book excerpt: ICB was appointed by the UK coalition government shortly after it came to power last year. Its current view is that all systemically important banks (including wholesale and investment banks) and any other large UK retail banks should have a minimum capital ratio of common equity tier 1 to risk weighted assets of 10%. ICB provisionally recommends ring-fencing UK retail banks into separate subsidiaries and has confirmed that it will not pursue a number of more severe structural measures. This report also looks at, and suggests means to tackle, the perceived weakening of competition in, and perceived barriers to entry to, the UK retail banking market.

The Regulation and Supervision of Banks

Author : Chen Chen Hu
Publisher : Routledge
ISBN 13 : 1351965719
Total Pages : 494 pages
Book Rating : 4.3/5 (519 download)

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Book Synopsis The Regulation and Supervision of Banks by : Chen Chen Hu

Download or read book The Regulation and Supervision of Banks written by Chen Chen Hu and published by Routledge. This book was released on 2018-04-17 with total page 494 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past two decades, the banking industry has expanded and consolidated at a stunningly unprecedented speed. In this time banks have also moved from focusing purely on commercial banking activities to being heavily involved in market-based and transaction-oriented wholesale and investment banking activities. By carrying out an all-encompassing set of activities, banks have become large, complex, interconnected, and inclined to levels of risk-taking not previously seen. With the onset of the 2008 global financial crisis it became apparent that there was an issue of institutions being too big to fail. This book analyses the too-big-to-fail problem of banks in the EU. It approaches the topic from an interdisciplinary perspective using behavioural finance as a tool to examine the occurrence of the global financial crisis and the emergence of the structural problem in large banking institutions. The book draws a comparison between the EU, the US and the UK and the relevant rules to assess the effectiveness of various approaches to regulation in a global context. Chen Chen Hu goes on to use behavioural analyses to provide new insights in evaluating the current structural reform rules in the EU Proposal on Bank Structural Regulation and the newly adopted bank recovery and resolution regime in the EU Bank Recovery and Resolution Directive and the Single Resolution Mechanism (SRM) in the Single Resolution Regulation.

The Financial Crisis and White Collar Crime

Author : Nicholas Ryder
Publisher : Edward Elgar Publishing
ISBN 13 : 1781001006
Total Pages : 339 pages
Book Rating : 4.7/5 (81 download)

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Book Synopsis The Financial Crisis and White Collar Crime by : Nicholas Ryder

Download or read book The Financial Crisis and White Collar Crime written by Nicholas Ryder and published by Edward Elgar Publishing. This book was released on 2014-05-30 with total page 339 pages. Available in PDF, EPUB and Kindle. Book excerpt: øThis timely book will be of great use to both teachers and students of financial crime relevant modules.ø It will also appeal to policy-makers in government departments, law enforcement agencies and financial regulatory agencies, as well as profession