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Bank charges: PRA urged to publish risks

The Prudential Regulation Authority (PRA) is being encouraged to publish details on risks.

Conservative MP Andrew Tyrie suggested that PRA should publish details on any exposure to risks that their traders have taken and tell Parliament about the size of these activities, the Guardian reported.

Mr Tyrie is also the chairman of the Parliamentary Commission on Banking Standards, which has been aiming to overhaul regulations within the financial sector. He suggested such changes as ring fencing retail banking from investment banking so that operations are better protected from bad loans.

PRA, which is part of the Bank of England, took over the regulation of banking standards at the start of this month when the Financial Services Authority (FSA) was disbanded.

It is in charge of managing risks in investment, which previously led to the financial crisis of 2008. As a result of the FSA’s failure to spot these risks, it was decided that the regulator should be replaced.

John Fieldman

Having worked in the city for 19 years, John's main focus is interest rates and corporate finance.ADNFCR-2776-ID-801565788-ADNFCR

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