Banks Tell Regulators: Thanks for Being Tough on Us

Mark Carney said the banks are strong enough to cope with far tougher crises than this

by Tim Wallace

Britain’s banks are grateful to regulators for forcing tough new capital and liquidity rules onto the industry, a top sector leader said, as the requirements have kept lenders safe through the turmoil of the Brexit vote.

Banks did not always agree with the Bank of England’s vigorous drive to make them hold bigger capital buffers, arguing on occasion that this held back lending through the financial crisis and its aftermath.

But the push to have banks set aside more resources to keep them safe has paid off, Noreen Doyle, chairman of the British Bankers’ Association has acknowledged.

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