Industry welcomes 'financial stability' proposals

Both the British Bankers’ Association (BBA) and the Financial Services Compensation Scheme (FSCS) have praised the proposals, put forward today by the HM Treasury, the Financial Services Authority (FSA) and the Bank of England. The document outlines five key objectives for both the UK and overseas. They include: strengthening the stability of the financial system, both in the UK and globally; reducing the likelihood of banks facing difficulties; reducing the impact if, nevertheless, a bank gets into difficulties; providing effective compensation arrangements in which consumers have...