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Bankers warn of impact

The British Bankers’ Association has questioned if the FSA’s response to the banking crisis will strike the right balance between financial stability and allowing banks to support the economy.

Chief executive Angela Knight wrote to FSA chief executive Hector Sants last week, saying there is “a critical need” to model the impact of the plans in the Turner review. Knight says the FSA has given “insufficient attention” to the impact that raising capital and liquidity requirements will have in the industry.

She says: “The banking industry is fully supportive of the need to overhaul the regulatory framework. But we do not believe the UK can plough ahead with all on its own without thought to how changes here will work with plans afoot elsewhere.”

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