Banks: Regulation

HM Treasury written question – answered on 24th November 2016.

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Photo of Lord Stoddart of Swindon Lord Stoddart of Swindon Independent Labour

To ask Her Majesty’s Government, in the light of the statement by the US President-elect that he intends to reinstate the Glass-Steagall rules, what assessment they have made of the impact this would have on the UK banking system.

Photo of Lord Young of Cookham Lord Young of Cookham Lord in Waiting (HM Household) (Whip)

The government monitors the financial regulation policies of our international partners, including the US, as they develop.

In the UK, from the 1st of January 2019, our ring-fencing regime will require structural separation of core retail banking from investment banking for UK banks with retail deposits of more than £25 billion.

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