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Bank charges: Proposals outline challenge major banks

The Financial Services Authority (FSA) will outline a proposal this week to see smaller banks more able to compete with the big four.

Previously, it was suggested that smaller banks should not have to hold as much capital as their major counterparts in order to trade. The FSA has decided to follow through with this and will outline the terms on March 27th.

This idea is being implemented to encourage competition between banks. Currently, government is concerned about the lack of competition between retail banks as most customers tend to go to the ‘big four’. These are HSBC, Lloyds Banking Group, Royal Bank of Scotland and Barclays.

Regulations within the European Union, due to be introduced by the Basel Committee, could see banks having to keep higher amounts of capital than they are required to at present. This is in order to protect the banks against risky investment deals falling through and potentially leading to another financial crisis.

Samantha Clarke

Samantha is a former banking assistant and has over ten years experience in retail banking.ADNFCR-2776-ID-801561757-ADNFCR

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