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Sir Win Bischoff, Chairman of Lloyds Banking Group and one of banking's most respected elder statesmen, comments on Searching Finance's latest report 'The Future of Banking: Reconciling Risk, Profitability and the Public Interest':

“Much has been written about the causes of the financial and banking crises.  In his new report ‘The Future of Banking: Reconciling Risk, Profitability and the Public Interest’ Steve Davis analyses some of the less frequently cited causes such as deficient bank governance, regulatory shortcomings and the drive for unrealistic profitability. He uses these same factors to offer a view – as only he can and not always very comforting! – about the future and how bank managements, regulators and investors will need to respond”.
Published in News and Views
The former director-general of the CBI and former editor of the FT goes on to say: "Sure, its recommendations will have economic costs, but they will be trivial – especially since they will reduce the likelihood of any future banking catastrophe. And yes, they will impose extra burdens on the banking system, but these will not be as heavy as some have suggested. The impact on the City of London will be broadly neutral, and banks will have no new incentives to relocate elsewhere, since the proposed regulations will apply primarily to their high street business which by definition has to stay where it is.

 

But notwithstanding all this polite analysis, there is plenty here for the banks to object to. Their battle will be fought in two main areas: costs and competition."

 

Read the full article here: http://www.ft.com/cms/s/0/a6886e5e-dd35-11e0-b4f2-00144feabdc0.html#ixzz1Xk3aMwCB

http://www.ft.com/cms/s/0/a6886e5e-dd35-11e0-b4f2-00144feabdc0.html#axzz1Xj3jmbFb

Published in News and Views
Saturday, 10 September 2011 20:10

Banking in the year 2036

Published in News and Views
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