UK retail banks could offer simple derivatives-FSA
LONDON Nov 19 (Reuters) - British banks could be allowed to sell some derivative products to small firms within their ring-fenced retail operations following bank reforms, the chairman of the financial regulator said.
Such a move would represent an easing of original proposals that such transactions would be required to take place outside of bank's retail operations.
"We can see some arguments why a relaxation might be legitimate and ok provided that it is wrapped around with some limits as to the scale of this book relative to the total scale of the balance sheet," Adair Turner told a parliamentary inquiry into banking standards.
- Washington, DC city council raises minimum wage to $11.50/hr in 2016
- India removes barriers to U.S. embassy as anger grows over diplomat's arrest
- UPDATE 5-Mega Millions lottery winning tickets sold in California, Georgia -Officials
- Winning ticket sold in California for Mega Millions lottery: official
- U.N. told up to 500 killed in South Sudan clashes: diplomats