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Pin to quick picksLloyds Share News (LLOY)

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Share Price: 57.20
Bid: 57.16
Ask: 57.20
Change: 1.02 (1.82%)
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HIGHLIGHTS-Comments from British Bankers' Association conference

Thu, 17th Oct 2013 08:09

LONDON, Oct 17 (Reuters) - The British Bankers' Associationannual conference on Thursday included speeches by top Europeanand UK regulators and senior banking executives.

The following comments were made, or were due to be made, inspeeches at the event or on the sidelines of the conference:

ALLOWING CHINA'S BANKS TO OPERATE AS BRANCHES IN UK

Anthony Browne, BBA Chief Executive:

"We welcome it massively. It would be good for London as afinancial centre. However, there shouldn't be special treatment.We need to make sure that we adhere to international standards."

REGULATION INCONSISTENCY

Anthony Browne, BBA Chief Executive:

"(We) are concerned about the impact of internationalinconsistency in regulation - between the U.S., the EU and UKand others. This isn't just a problem for the banks, but fortheir customers."

FUTURE SHAPE OF BANKS

Bill Michael, KPMG's European head of financial services:

"Banking will become dull, and dull will be the new good.Bankers will no longer be the rock stars of the commercial worldand banking will become staid and adrenaline-free.

"As global banks reconfigure and become more countryfocused, stable returns will be demanded by investors. Volatileearnings will signal that a bank hasn't finished adapting.

"The 'dullness' of banks will drive culture and behaviour,not the other way around.

"Libor was a game changer for banking ... We are heading toa new place where universal banking doesn't exist as it doestoday. Where retail and investment banking may be split andwhere the interests of countries, and their banks, come first.

"As the philosophy of 'country-first' takes hold, globalbanks will be forced to become less global. In this new worldretail and investment banking are not comfortable bedfellows andwill likely split."

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