Ministers to pursue loosening of bank rules in teeth of industry crisis

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The Treasury will publish a call for evidence in the coming days focused on streamlining the senior managers regime introduced after the banking meltdown of 2008, Sky News understands.

Ministers are to pursue another step towards loosening the banking reforms introduced after the 2008 financial crisis despite the turmoil which prompted the emergency takeover of Credit Suisse at the weekend.

Sources said the government would honour a commitment to kicking off the work by the end of the first quarter, with an announcement possible later this week. The SMCR came into effect seven years ago as one of the central tenets in the government's post-crisis reforms to make bankers more accountable for their decisions.

 

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Looking to asset strip the country while they still have the chance, then blame the incoming Labour government for the financial crisis it causes.

Let’s just carry on pulling out regulations, what could possibly go wrong?

When it seems there are problems in the banking sector is loosening restrictions really the path that should be taken? I mean isn't that just stupidity?

Crazy

The wef need the banks to collapse to introduce cbdc’s.

Idiots...

Not surprising. Remember how much money Sunak made in 2008. Time for another dip into the well?

Will the wedding protect the bedding? A UBS/Credit Suisse wedding! Will it stop contagion from spreading? Some are saying yes But it's anyone's guess More banks may soon soil their bedding.

Utter madness, London is the money laundering capital of the world urged on by corrupt financiers, lawyers and property developers. Why else would international organised crime groups find it so attractive?

Hey skynews

ToryCriminalsUnfitToGovern ToryIncompetence

The patient is bleeding put and they want to do blood letting to see if it curse blood loss.

The taxpayer will bail them again - what’s the worry ?

That’s right, let’s destabilise the banking industry and hope it hangs on till next Labour government 🥴🤦‍♂️

What could possibly go wrong?

Weekend?

Greed

Are they mad? hmtreasury TheFCA the issues faced come from neobanks, crypto transactions and the loose compliance regime. Your focus should be consumer protection not making life easier for banks already making huge profits

Not to worry. We’ll all pick up the bill again when it inevitably goes tits up.

What rules? they don't play by the rules that are already there anyway

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