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LONDON, July 9 (Reuters) - A British regulator said on Friday that banks clearing gold trades in London could apply for an exemption from tighter capital rules due in January 2022, removing what some said was a threat to the functioning of the market.
Following a consultation, the Bank of England's Prudential Regulatory Authority (PRA) said on Friday it had "decided to amend its approach to precious metal holdings related to deposit-taking and clearing activities."
It said it had introduced an "interdependent precious metals permission" which would reduce the size of the required capital buffer.
https://www.kitco.com/news/2021-07-09/Britain-carves-out-exemption-for-gold-clearing-banks-from-Basel-III-rule.html
Yes I am afraid the Conservative Government under Boris, will bend over backward to help their ,poor, suffering ,mates.
And 3 more years of it.
But Boris will argue it will attract more business to the City.
Sorry terrible typo's below it posted before I intended, still I think most will understand the Prof Stanley Unwin gibberish!
https://www.youtube.com/watch?v=ZVpJzGeM2p4
“Wealth is used to buy influence”
The Code of Conduct for MPs and Guide to the Rules should be updated to state that MPs should register accepted gifts and hospitality. ... MPs should never accept any payment or offers of employment to act as political or Parliamentary consultants or advisers.
I wonder if Boris & his crew were sent shortbread by the LBMA to persuade them to get the Basel 3 rules changed!
Can't help but suspect that some rather more expensive persuaders get sent to Boris and other ministers by professional lobbyist companies!
Labour MP surprised at the number unsolicited gifts she receives from professional lobbyists
https://www.coventrytelegraph.net/news/coventry-news/four-things-coventry-mp-been-17826347
obligations as an MP
As an MP, you must follow the rules relating to donations and
loans that you receive in connection with your political
activities.
As an overview, you must:
? check that donations you receive with a value of more than
£500 are from permissible sources
? check that loans you are offered with a value of more than
£500 are from permissible sources before you enter into
them
? familiarise yourself with the relevant registration thresholds
in the Guide to the Rules
? report the details of relevant donations and loans to the
Parliamentary Commissioner for Standards within 28 days
of accepting them, including those from the same source in
the same calendar year that add up to more than the
relevant thresholds
? return any impermissible donations that you receive within
30 days of receipt and report the details to the Electoral
Commission within 30 days of returning the donation
? pay back any impermissible loans immediately and report
the details to the Electoral Commission within 30 days of
ending the loan
? notify the Electoral Commission if you find you have
retained an impermissible donation or loan more than 30
days after receipt.
https://publications.parliament.uk/pa/cm201516/cmcode/1076/107604.htm
yawn
When was the last time you made a reasonable comment .
I have looked, and there is nothing.
Mark9999
Hi MrBond,
Entirely agree with your observation and comment on the said member comment which was unwarranted and just rude.
Some that visit this forum from time to time are obviously used to the sniping,selfish behavior and bad attitudes that prevail on the vast majority of other forums.
To be frank I really can't see why anyone who can't be bothered to be civil, or show any interest in joining the debate and exchange views and opinions from other forum members on all manner of subjects should expect to get any information or help regarding their interest or investment in Centamin.
Possibly the member was having a bad morning and will reconsider their comment, or if not then they should consider if forum is really suited to their needs.
Keep well!
Tibbs