On the other hand, business groupings such as the Association of treasurers and managers of company (ACT) have warned that a reform of banking in these moments could undermine the economic recovery if they are expensive loans to companies. Despite the opposition more or less says the sector, the Minister of enterprise, the made Vince Cable, he insisted this Sunday in a newspaper article in that banks must prepare for major reforms that will prevent them to use the British savings to play the banking equivalent of roulette. In addition, Cable, more ruthless with the excesses of the sector that fellow conservative Osborne, argues that banks themselves are those who must assume the costs of the reforms, and not pass them the invoice customers. This Sunday, the Secretary General of the National Confederation of trade unions, Brendan Barber, asked banks that cannot resist reforms, while Labour leader Ed Miliband encouraged institutions to dismiss their employees who take excessive risks. Recommendations for the creation of a ring of protection between business operations and investment expected the Commission to propose that banks will increase to at least 10% of capital reserves to deal with crisis situations, thus reducing the risk of State intervention. Another recommendation of the experts, in this case to improve competition in the sector, will be, as he was pointed out in April, introducing measures to facilitate consumers the transfer of their accounts from one entity to another. In its previous report the Commission decided also that the partially nationalized Lloyds Banking group, which absorbed the HBOS during the crisis, sold more than 632 branches you already imposed by the European Union (EU) under the protection of laws against the monopoly.
| August 8th, 2013 | Posted in General |