Commission on Banking Standards takes evidence from Erkki Liikanen
22 October 2012
The Parliamentary Commission on Banking Standards will hold its third public session on Monday 22 October with Erkki Liikanen giving evidence.
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Witness
2.30pm in the Grimond Room, Portcullis House
- Erkki Liikanen, Governor of the Bank of Finland
Erkki Liikanen chaired the high-level expert group on structural bank reforms established by the European Commission, which produced its report on 2 October. He is also Governor of the Bank of Finland and a member of the Governing Council of the European Central Bank.
Mr Liikanen's group recommended a ring-fence between investment banking and retail banking activities along similar lines to that recommended by the Independent Commission on Banking. The ICB's ring-fence is being implemented by the draft Financial Services (Banking Reform) Bill on which the Parliamentary Commission on Banking Standards (PCBS) is conducting pre-legislative scrutiny. The PCBS will be interested to hear from Mr Liikanen on how his group arrived at their recommendations, where these support or diverge from the reforms being implemented in the UK, and how best to ensure that structural reforms are effective.