The government will not reverse post-financial crisis banking regulation, Jeremy Hunt has said, amid growing concerns that Britain is loosening post-Brexit rules for the City.
The chancellor told the Commons’ Treasury select committee that a decision on whether to relax the ring-fencing between banks’ retail divisions and their riskier investment banking businesses would be made with the aim of preserving financial stability.
“We think that 15 years after the financial crisis, it is the right time to review the ring-fencing regime. But we are also clear we will not unlearn the lessons of the financial crisis and we will make sure we build on the fact that our regulators have a responsibility to promote financial stability,” Hunt said.
Ring-fencing was implemented in 2019 and requires
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