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Thursday 22nd November 2012 | 15:26
Parliamentary Commission on Banking Standards press release
Commenting on this morning’s evidence session with the Bank of England, the Chairman of the Parliamentary Commission on Banking Standards, Andrew Tyrie MP, said:
“The Bank of England has added its voice to the chorus of those who believe more information is needed now on how the secondary legislation will operate.
“This morning’s evidence reinforced the impression from much of what we have heard that one of the biggest risks to the Government’s proposed ring fence lies in its permeability over time.
“I note that the Bank is trying, as we are trying, to think of ways the legislation can be improved to address this concern.”