UK banks need to focus on lending and paying back taxpayers and should not be distracted by more regulation, the head of the British Bankers' Association has said.
Speaking ahead of the Independent Commission on Banking's final recommendations due next month, Angela Knight said regulatory change could undermine the recovery. She said in light of the ongoing eurozone debt crisis and stock market volatility, the focus for banks should be on the recovery, not on dealing with more regulation, the BBC reports. "From now on, the UK's efforts must be focused on the economic recovery," Knight said. "This means allowing the banks to finance the recovery first, pay back the taxpayer next, and only then turn to further regulatory change. "If more reg...
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