UK’s new bank levy ‘will be tricky to manage’

25 Jun 2010

The UK government will use its new bank levy, the first to be implemented in the G20, to encourage banks to term out their funding.

The government unveiled the lower than expected levy on Tuesday as part of its emergency budget designed to bring the country’s enormous deficit under control.The UK’s levy, which applies to UK headquartered banks and building societies as well as UK branches and subsidiaries of foreign institutions, is expected ...

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