UK: the Turner Review - FSA statement

The Financial Services Authority has published a statement in which it analyses the feedback received in respect of the Turner Review and accompanying discussion paper. The statement notes respondents' general agreement with the analysis of the Turner Review and the approach it proposed. The statement also outlines the actions the FSA has taken since March.

In the press release accompanying the statement, the FSA explains that a second discussion paper will be published this month dealing with the identification of 'systemically important firms' and the design of so-called 'living wills'. The discussion paper will also discuss the cumulative impact of capital and liquidity reforms.