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Bank charges: Commission wants tougher line on leverage

The Parliamentary Commission on Banking Standards has said that Britain should be able to impose tougher rules on leverage.

Leverage decides how much capital banks need to have behind them before they can lend money.

At the moment, the leverage ratio is set internationally at three per cent.  The Commission says that this is too low and says that the Bank of England should be able to raise it. This is in spite of the fact that chancellor George Osborne has said that he thinks the current leverage rate is enough.

The Commission has been working to improve regulations on banking to help stop another financial crisis from happening and from taxpayers being required to bail banks out.

In February, the chancellor said that he wants to ring fence banks’ retail and investment arms in order to protect taxpayers from another financial crisis. He said that banks that fail to do this can be separated completely.

Samantha Clarke

Samantha is a former banking assistant and has over ten years experience in retail banking.ADNFCR-2776-ID-801554453-ADNFCR

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