The Traderszone Network

Published in TZ Latest News 27 May, 2014 by The TZ Newswire Staff

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

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 said on Tuesday. IMF Managing Director Christine Lagarde said banks were 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,” Lagarde told a conference on economic inclusion in London.