The Good Banking Forum includes a unique range of leading figures from academia, finance, politics, the law, trade unions, consumer and civil society groups that are demanding real reform of the banking sector.

The Forum emerged from the Good Banking Summit, organised by nef (the new economics foundation) and Compass in May 2011. The Forum challenges the limited scope of the Independent Commission on Banking, will mobilise public pressure for ‘Good Banking,’ and is campaigning to break-up the banks as a necessary first step.

Archive for July, 2011

Paul Volcker questions Vickers ring fencing proposals

Paul Volcker, a former Chairman of the United States Federal Reserve and economic advisor to Barack Obama, was invited to Cass business school last week to make a guest lecture, and spoke exclusively about the question of the regulation of the Banking sector. (more…)

Treasury Select Committee responds to ICB report

This week the Treasury Select Committee released its assessment of the Independent Commission on Banking’s (ICB) interim report. MPs demanded that before the ICB publishes its final report in September it should clarify and justify many of its recommendations and calculations.

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Banks respond to Vickers proposals

The large UK-based banks have come out this week against the modest regulatory measures proposed in the Independent Commission on Banking’s interim report; in particular measures concerning the fire wall division between retail and investment banking activities.

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Good Banking forum launch

Three years on from the full outbreak of the banking crisis, a unique range of leading figures from academia finance, politics, the law, consumer and civil society groups gather in Parliament this morning to launch the report of the Good Banking Summit and the Good Banking Forum: an open and wide-ranging public forum that will lead the campaign for banking that is safe and fit for purpose.

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Header Text

The Good Banking Forum includes a unique range of leading figures from academia, finance, politics, the law, trade unions, consumer and civil society groups that are demanding real reform of the banking sector.

The Forum emerged from the Good Banking Summit, organised by nef (the new economics foundation) and Compass in May 2011. The Forum challenges the limited scope of the Independent Commission on Banking, will mobilise public pressure for ‘Good Banking,’ and is campaigning to break-up the banks as a necessary first step.

Contact the Independent Commission on Banking

The Independent Commission on Banking led by Sir John Vickers, which has been charged with the task of coming up with a range of recommendations for the Government to adopt is coming under intense lobbying from the banking sector. In essence they are using bailout money to lobby for the right to be bailed out again.

We want the Commission to hear the voices of the people, ordinary tax-payers who bailed out the banks to the tune of billions. We therefore need you to send an email in support of our call for Good Banking. It will take less than 2 minutes of your time, but could make a huge difference.

Open letter calls for bank break up

An open letter has called on the Vickers Commission to break up retail and investment banks.

As the deadline for responses to the Independent Commission on Banking’s interim report passes a wide ranging coalition believe that initial proposals for reform are falling far short of what is needed.

The group of experts argue that ring-fencing retail and investment banking through ‘Chinese Walls” in the manner suggested and endorsed by the Chancellor, George Osborne will not produce a banking system that is safe and fit-for-purpose. It states that if banks can continue to move capital between retail and investment banking, the latter could still endanger the former.

There is now a growing cross-party consensus including leading Conservative figures such as Lord Lawson, Liberal Democrats including promiment figures from the Social Liberal Forum, Labour MPs, leading Green Party figures and others that the Vickers Commission should recommend a full separation of retail and investment banking.

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