Vickers renews criticism of BoE systemic buffer

Blanket 3% buffer would better support ring-fencing, Vickers tells Tyrie

Front of the Bank of England in London
BoE "should have made extensive use of" 3% buffer level

The tiering of the capital buffer for the UK's ring-fenced banks has come under renewed attack from John Vickers, one of the architects of the industry's structural reforms.

Vickers chaired the Independent Commission on Banking (ICB), which in 2011 proposed ring-fencing traditional retail banks away from riskier investment banking businesses. He has subsequently become a vocal critic of the way the reforms are being implemented.

In an October 20 letter to Andrew Tyrie, the chairman of the UK

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