Industry backs Darling plan.

Financial Adviser, January, 2008

Byline: BBA welcomes greater powers for FSA amid claims chancellor is merely 'shutting stable door'

The banking industry has given its support to Alistair Darling's move to give the the FSA greater powers to deal with liquidity and capital requirement issues.

However, the proposals have come under fire from other sources as merely being a "loud slamming of stable doors after the horse has bolted".

Angela Knight, chief executive of the British Bankers' Association, said: "We have been urging the government to bring a speedy resolution to the issues highlighted by Northern Rock.

"We support the tripartite system - with the FSA in the lead - but to be effective it needs to be able to attract and retain high calibre staff. We look...

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