Ease of bank switching could cause systemic risk


UK consumers have demanded banks make it easier for them to switch bank accounts, but some industry professionals believe this could increase banks' liquidity risk exposure, and even contribute to the risk of another systemic crisis. 

An interim report in April from the Independent Commission on Banking (ICB) favoured making switching easier on competition grounds. "Further improvements could speed the process and give customers (both personal and businesses) greater confidence in switching

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