UK bank profits face challenge from FSA, BoE proposals

10/23/2009 | Bloomberg

The debate continues between Bank of England Governor Mervyn King and Financial Services Authority Chairman Adair Turner over how best to supervise banks deemed too big or important to fail. No matter who wins, however, profits at UK banks probably will decline, according to this article. "Banking for the very top players just got even more expensive -- we just don't know by how much yet, or whether that extra cost will inevitably change the face of global banking," said Stephen Fletcher, a regulatory lawyer at Linklaters.

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