banking ringfence

Claire Jones

Erkki Liikanen, governor of Finland’s central bank and author of the eponymous review into the structure of Europe’s banks, appeared before UK lawmakers on Monday as part of parliament’s commission on banking standards.

There wasn’t much new information on the Liikanen proposals, which require some aspects of trading activity to be separated from banks’ deposit-taking operations.

But there was an interesting spat between a cantankerous Lord Lawson, the former chancellor of the exchequer who sits on the commission, and Mr Liikanen. Read more