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uk-400LONDON: Start-up banks in Britain won't need as much capital as their established rivals, the UK Financial Services Authority said on Tuesday in a new policy move to boost competition.

Under pressure from lawmakers to increase choice on a high street dominated by four banks, the FSA unveiled changes to speed up authorisation of new entrants.

There will also be lighter capital requirements in the first three years as long as the bank can show that deposits are insured and the firm can be wound up easily without destabilising markets.

There will also be reduced liquidity requirements, the FSA said in a statement.

Copyright Reuters, 2013


 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln