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Sunday, 3 August 2014

HSBC urges government to delay bank ring-fencing: Sky News

The HSBC building is seen on Canary Wharf in London (Reuters) - HSBC Holdings Plc is urging Britain to delay its deadline for new rules forcing lenders to separate routine retail operations from riskier investment banking activities, until the outcome of an industrywide probe, Sky News reported on Sunday citing sources. HSBC Chairman Douglas Flint has written a letter to UK Chancellor George Osborne and Bank of England Governor Mark Carney requesting a delay to the 2019 timetable for banks to ring-fence their business, Sky quoted sources familiar with the letter's content as saying.








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