It is "essential" that UK banks operate with a "substantially higher" leverage ratio than the 3% minimum required by Basel III and current UK government plans, according to a critical report released today by the Parliamentary Commission on Banking Standards.
The commission – in its second report on banking reform – says it is "wholly unconvinced" by the government's "extremely weak" case for leaving the leverage ratio at the international minimum. "Not to [increase the ratio] would reduce the
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