The Live Wire



Press Release

ABI on banking reform

12 September 2011

Otto Thoresen, Director General, Association of British Insurers said:

“We will need to read carefully through the detail of the report from the Independent Banking Commission but we have been consistently clear that we can see the value in some degree of ring-fencing of banking operations to make the system more robust. We must remember that the banks are crucial to the UK's recovery and future economic prosperity. However if they are overburdened with regulation and capital requirements we run the risk of stifling their ability to contribute to growth. Any reform to deal with the causes of the financial crisis must not be at the expense of our ability to recover from it.”



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Association of British Insurers

Association of British Insurers

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