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Both Liberals and Conservatives in the U.K. agree on a levy on the banks to raise 1 billion pounds. Liberal's Cable is the new Business Secretary and he favors shrinking the large banks and reducing systemic risk, and a separation of retail and investment banking activities. The Financial Services Authority will continue to operate and examine banks, the Bank of England will oversee systemic risk and regulation of banks.
Grouped Articles
British Treasury Targets Banks to Increase Tax Revenue
New York Times 12/04/2014
David Cameron Leads a Call to Thwart Financial Corruption
New York Times 05/12/2016
Economist 05/13/2010
A Crisis of Faith in Mervyn King, Britain's Central Banker
New York Times 02/06/2011
British banks: Vickers in a twist
Economist 01/29/2011
British Bank Proposal Expected to Include Stiff Rules
New York Times 04/07/2011
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