BBA statement on Treasury Committee’s report on ICB1
20/07/11

The British Bankers' Association said:

"The banking industry agrees with the Treasury Committee's view that closer consideration needs to be given to the impact of reforms, on the competitiveness of the UK economy as well as the supply of credit to business.

"We are also pleased to see the Treasury Committee's recognition of the relationship between the Independent Commission on Banking’s remit and the international reform programme already under way. This includes work on higher capital levels, tighter liquidity requirements and stronger contingency planning in the form of Recovery and Resolution Plans (RRPs), all of which add up to strengthening the resilience of banks and ensuring continuation of service for customers if a bank should face financial difficulty. Further measures on capital and RRPs were published by the Financial Stability Board this week, and the ICB will wish to take these into account in drawing up its final recommendations."

Notes to Editors

The Treasury Committee published its 19^th report of the session: Independent Commission on Banking today at http://www.parliament.uk/business/committees/committees-a-z/commons-select/treasury-committee/news/icb-report-publication/