Barclays’ Diamond argues case for universal banking
Barclays' chief executive Bob Diamond adamant bank’s model funds cheaper lending and is less risky
Bob Diamond, the chief executive of Barclays Bank, has parried claims that combining retail with investment banking threatens financial stability, saying the universal model not only enabled banks to lend for less, but was also less risky.
In an at-times testy hearing with British lawmakers from the influential Treasury Committee on Tuesday, Diamond said: "Our business model of universal banking
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact info@risk.net to find out more.
You are currently unable to copy this content. Please contact info@risk.net to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@risk.net
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@risk.net
More on Regulation
FRTB revamp won’t restore models to past glory, risk managers say
US-inspired reform only expected to lead to small boost in adoption, with limited desks on IMA
Regulators must think bigger to tackle tech risks, says Hong Kong SFC
Leung warns AI adoption and recent cyber scares show new threats require global co-operation
Time to let some air out of the banking system?
Watchdogs worry about lowering standards, but policy-makers eye growth – they face a difficult dilemma
Competitiveness mandate for Esma faces uphill battle
European Parliament offers last chance to force Esma to take more nuanced approach
Europe expects FRTB to bite on XVA hedges
Risk Benchmarking: One-third of European dealers fear new market risk rules will have major effect on hedges
Burning ambition: will Europe join the US in setting fire to the rules?
As the US dismantles post-crisis regulations, some think Europe will follow in a bid to boost economic growth
Can US perpetual futures solve their identity crisis?
Market could fall under four different regulatory categories, with sharply diverging outcomes
Banks want AML data upgrade to complement US regulatory reform
FinCEN’s proposed overhaul sparks debate on whether it will lead to smarter or weaker supervision
