November 19, 2012 / 5:56 PM / in 5 years

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.

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