Thursday, 18 October 2012

UK: Banking Standards Committee hears from Paul Volcker and invites comment on draft Financial Services (Banking Reform) Bill

Paul Volcker, a former chairman of the Federal Reserve, was questioned yesterday by members of the Parliamentary Commission on Banking Standards. A video recording of the session, which lasted for just under 2 hours, is available here and a transcript will soon be available here. The Guardian newspaper has reported some of Mr Volcker's comments, particularly with regard to the efficacy of ring-fencing: see here. The Commission has also published a call for evidence in respect of its pre-legislative scrutiny of the draft Financial Services (Banking Reform) Bill published by the Government late last week: see here.

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