Harsh banking regulation will negatively impact the economic recovery and cost upwards of 10 million jobs globally, the world's leading bankers have warned.
The Institute of International Finance (IIF) yesterday hit out against national governments who want to "gold-plate" the new Basel III regulations with "arbitrary constraints", reports the Independent. The Washington-based body warned against unilateral actions to impose on banks fresh levies or even tougher capital requirements, or to bring forward the implementation of Basel III, which is not scheduled to be fully in force until 2019. Read more Cameron's secret plan to cut UK's £149bn debt The Government is working on a secret plan to tackle Britain's £149bn deficit by h...
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