Barnier seeks to soothe UK over banks

The United Kingdom would still be able to ringfence its retail banks and impose extra capital requirements on them under the proposed European Union regulations that seek to harmonise capital rules across the European Union, Michel Barnier, EU’s Internal Market Commissioner, told the Financial Times on the 21 July 2011.

Mr Barnier said he had split his new capital requirements proposal, unveiled on the 20 July 2011, into two to give jurisdictions such as the UK and Spain more flexibility to impose additional demands on particular parts of their banking sectors to improve financial stability.

ESO: Background information: Brussels unveils tough bank capital rules http://www.europeansources.info/record/fight-expected-over-eu-bank-capital-rules-brussels-unveils-tough-bank-capital-rules/

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