Vickers renews call for greater focus on bank equity

Bank of England overconfident on resolution and counter-cyclical buffer, ICB head says

John Vickers: "No way… the ICB would have thought the counter-cyclical buffer should be zero"

John Vickers, chair of the UK's Independent Commission on Banking (ICB), has today (May 18) called again for higher equity capital requirements for UK banks, saying the Bank of England's (BoE) plans were based on overconfident assumptions about the resolution process and its own skill as a macroprudential regulator.

Earlier this year, Vickers criticised the BoE's capital plans for falling short of what was necessary to prevent another crisis. It replied that its proposals actually produced

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