Reeves scraps post-crisis banking rules in scramble to boost growth
The telegraph·
- Chancellor Rachel Reeves has canceled banking rules aimed at enhancing safety in the financial sector post-financial crisis to spur economic growth.
- The changes will reduce the number of services that must remain segregated and allow retail banks to engage in certain hedging activities, claiming it will support growth and create jobs.
- The new rules are expected to provide banks with up to £80 billion in additional support for businesses and facilitate more shared operations between retail and investment banking.