May 27, 2014 / 8:32 AM / in 4 years

IMF's Lagarde says bank reforms slowed by fierce industry pushback

LONDON, May 27 (Reuters) - Progress in completing banking reforms to plug gaps highlighted by the 2007-09 financial crisis is too slow and is being hampered by fierce industry lobbying, the International Monetary Fund (IMF) said on Tuesday.

IMF Managing Director Christine Lagarde said banks are holding more capital now than they did in the run up to the financial crisis when taxpayers had to shore up the sector.

“The bad news is that progress is still too slow, and the finish line is still too far off,” Largarde told a conference on economic inclusion in London.

Reporting by Huw Jones, editing by Matt Scuffham

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