UK and US banks 'would have to do more' to meet new standards

Private wealth management firms in the UK and US would have to do more than their global counterparts in order to comply with measures to reduce the risk of another financial crisis.

This is according to the National Institute of Economic and Social Research (NIESR), which recently published a discussion paper on forming new capital and liquidity standards in the global financial market.

It has proposed raising capital and liquidity by four percentage points in order to ’significantly’ cut the risk of further crises, but noted the UK and US will have to work harder than other countries in order to meet this standard.

NIESR, which is the longest-established independent economic research institute in Britain having been set up over 60 years ago, also undertook a study for the Financial Services Authority, in which it concluded a gradual introduction of tighter standards ’would involve no risk to the short term prospects for growth’.ADNFCR-2318-ID-19759354-ADNFCR