News Column

IMF says bank reforms too slow

May 28, 2014

PROGRESS in completing banking reforms to plug gaps highlighted by the financial crisis is too slow and is being hampered by fierce industry lobbying, the International Monetary Fund has said.

Speaking at a conference in London yesterday IMF managing director Christine Lagarde said: "The bad news is the finish line is still too far off."

She said the too-big-to-fail problem has not been solved and called on regulators to agree a framework for winding down big banks which get in trouble.

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Source: Herald, The (Scotland)

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