Bank of England and Vickers clash on capital rules

ICB and BoE proposals are actually not all that different

John Vickers

The Bank of England (BoE) has dismissed concerns its capital requirements are too low, responding to criticisms raised by John Vickers, who chaired an influential banking reform committee.

In articles published in the Financial Times and Vox on February 15, Vickers warned that the BoE's framework for capital requirements, particularly its systemic risk buffer, could fall short of what his committee, the Independent Commission on Banking (ICB), proposes.

Nevertheless, in a statement, the BoE

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