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Bank charges: Christine Lagarde says ‘too-big-to-fail’ is more dangerous than ever

Christine Lagarde, managing director at the International Monetary Fund (IMF), said that the banks considered to be ‘too-big-to-fail’ are now more dangerous than ever and that tight regulations are needed to stop this.

In a speech to the Economic Club of New York on April 10th, Ms Lagarde suggested that the financial sector needs to be reformed so that it is more supportive of growth.

She said: “We simply cannot have pre-crisis banking in a post-crisis world. We need reform, even in the face of intense pushback from an industry sometimes reluctant to abandon lucrative lines of business.”

Then she commended the work of policymakers around the world for their stricter regulations on capital within banks.

In the European Union, banks are being told to increase the amount of capital they have behind them under suggestions from Basel III.

UK banks were recently instructed to put £25 billion aside to protect against any investments that could go wrong.

Charles Baker

Charles is a reputed financial analyst with decades of experience under his belt.ADNFCR-2776-ID-801569915-ADNFCR



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