This does not affect our editorial independence. * Affiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. But if the UK wants a vibrant and competitive banking sector, that feels able to address lagging private sector investment and lacklustre productivity, there is a strong case for further liberalisation.
The decision of the Bank's prudential arm to take the foot off Basel brakes is correct. National economies were plunged into recession and, 16 years later, the public finances of the world's most advanced economies are still dealing with the consequences in terms of borrowing and debt levels. Reforms such as improved deposit insurance of £85,000 in the UK, the separation of consumer from casino banking and stronger capital requirements have proved sensible. But as is often the case, the enforcers overdo it.
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