Critics hit back at cross-border bank levy


The UK government on October 21 published draft legislation for a bank levy that will traverse national borders and raise £2.5 billion a year, a day after announcing spending cuts of £81 billion over the next four years.

The levy, which will be permanent, will hit banks with more than £20 billion in liabilities, in a bid to penalise risky funding profiles. "The levy has been designed to encourage less risky funding and complements the wider agenda to improve regulatory standards and enhance

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact customer services -, or view our subscription options here:

You are currently unable to copy this content. Please contact i[email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a FX Markets account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: