LONDON, June 14 (Reuters) - British Treasury minister Mark Hoban on Thursd
ay outlined the government's plans for a far-reaching reform of the banking system, which were largely in line with recommendations made by the Independent Commission on Banking last year.
Following are highlights of Hoban's statement to parliament.
'The government will ringfence retail deposits from the risks posed by intetnational wholesale and investment banking. A ringfenced bank will be...legally separate from the rest of the group and run by an independent board.'
'We make sure that British banks will be resilient, stable and competitive and so attractive to investors at home and abroad. The euro zone crisis makes reform more, not less, important.'
'This government will continue to press for full Basel III implementation in Europe.'
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