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CBI responds to Government's statement on banking reform
The CBI responded to the Government’s statement to the House of Commons on banking reform.
Matthew Fell, CBI Director for Competitive Markets, said:
“Businesses want reform that delivers a stable and resilient banking system, but the unrelenting focus now must be on growth.
“The detail on the timing and implementation of these plans will be critical if we are to ensure that banks can continue to support the economy.
“The proposals for additional capital requirements are above and beyond those already agreed internationally, which will make it harder for banks to lend to businesses.
“Giving the regulator some flexibility over the design of the ring-fence should help smaller firms access the risk management products they need to support their growth.”
Notes to Editors:
The CBI is the UK's leading business organisation, speaking for some 240,000 businesses that together employ around a third of the private sector workforce. With offices across the UK as well as representation in Brussels, Washington, Beijing and Delhi the CBI communicates the British business voice around the world.