Capital rules accused of dampening UK dynamism
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The UK must slash red tape, speed up approvals and give banks more freedom to lend if it is to stay ahead of rival financial centres, according to a report.
TheCityUK and PwC said restrictive capital requirements, slow regulatory authorisations and overlapping supervisory rules are limiting banks’ ability to support the economy and undermining the UK’s competitiveness as a global financial hub.
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