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  1. Wealth
January 22, 2009

FSA wants greater capital requirements

By Spear's

In a speech to business leaders last night, FSA chairman Adair Turner announced his vision for a wide-reaching reform of banking regulation.

In a speech to business leaders last night, FSA chairman Adair Turner announced his vision for a wide-reaching reform of banking regulation.

The proposed measures, which come ahead of a review of the organisation’s activities due in March, including heavier capital requirements, and a broadening of the watchdog’s current remit.

“We need to increase capital requirements not just marginally but by several times,” he said, acknowledging that this would lead to a “significant contraction in the scale of trading books.”

He said banks should now be required to build up “substantial capital buffers in good economic times… so that they can run them down in bad.”

For further details visit thewealthnet

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