UK banking rules face biggest shake-up in more than 30 years
The plans to ease regulations on financial services are being described as another "Big Bang" - a reference to the deregulation of financial services by Margaret Thatcher's government in 1986.
Chancellor Jeremy Hunt said the changes would secure "the UK's status as one of the most open, dynamic and competitive financial services hubs in the world". After the financial crisis of 2008, when the government had to spend billions supporting the UK banking system, a new regime was brought in to increase the personal accountability of senior risk-taking staff.
The cost of having two separate shock-absorbing cushions of spare money was seen by some as placing extra costs on the sector.Image source,London's position as the pre-eminent European financial centre has been dented in recent years
France Dernières Nouvelles, France Actualités
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