Narrow banking would create more instability: FSA’s Turner

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Adair Turner, the chairman of Britain's Financial Services Authority (FSA), on Monday argued against the narrow banking proposal put forth by Mervyn King, the governor of the Bank of England.

Addressing the FSA's Turner Review Conference, he said: "The extreme narrow banking proposal is clearly doable in practical terms, but I believe could produce a financial system even more vulnerable to instability than the one we have today."

Arguing that the approach wrongly defines the central problem in

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