New FSA liquidity rules aim to strengthen UK banking industry
David Ellis and Silvano Stagni consider whether the UK is looking to lead the shape of the new regulatory order, whether there is a ‘first-mover advantage’ and whether, acting alone, it can control financial liquidity in enough depth to put the UK’s banking industry on a longer-term secure footing
Early in October, the Financial Services Authority (FSA) published its policy statement Strengthening liquidity standards. The core of the statement lays down clear rules on what constitutes an acceptable ‘liquidity buffer’ in terms of types of assets, amounts to be held and how different banks are going to be treated. The new regime will be easier for smaller and simpler banking firms, who will
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