UK government rejection of ICB leverage ratio favours lending over stability, expert says

Michael McKee, DLA Piper

The rejection of the UK Independent Commission on Banking's (ICB) recommendation that banks' leverage ratio should sit at 4% of capital base instead of 3% represents a decision by the UK government to sacrifice systemic stability in order to increase lending, according to one legal expert.

In a white paper released on June 14, the government set out its proposals for implementing the recommendations of the ICB to reform the structure of UK banking following the financial crisis. Alongside the

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