BoE's Haldane: 'King Kong' banks should face further curbs

Bank of England policymaker Andy Haldane, has slated ring-fencing proposals for being too weak and said "King Kong" banks should be no larger than $100bn.

Haldane hit out against current suggestions for ring-fencing the UK's major banks, saying the regulations do not go far enough, during a speech at the Institute of Directors. Haldane, who is the BoE's executive director for financial stability, argued regulators need to consider doubling banks' loss-absorbing capital buffers to 20%, as well as limiting the size of banks and fully separating investment and commercial banking. He said no bank should exceed $100bn in total assets, and claimed UK's banking giants are now even bigger than they were before the crisis despite deleveraging ef...