UK banks are happy with economic conditions, having got over the hump of high interest rates without significant loan losses. But like the UK’s policy establishment, they are searching the horizon for signs of stronger growth.

Just a week before GlobalCapital brought together bank treasurers, investors and investment bankers for a live discussion in London on December 10, the Bank of England’s Financial Policy Committee made its first relaxation of capital requirements for a decade. The GC Live event was one of the first opportunities market participants had to exchange views on the move’s implications. They welcomed the FPC’s shift towards an easing of regulation, but could not hide their disappointment at the lack of bolder steps.

The UK remains more conservative on issues including the leverage ratio and capital buffers than peer jurisdictions, and with the US lowering capital requirements dramatically, banks are worried about losing more market share to US firms.

Bank capital specialists are confident UK regulators are focused on the need for competitiveness, but they are hoping for speedy action.

Joshua Benson, director, UK FIG debt capital markets, Deutsche Bank

Rob Collins, treasurer, Nationwide

Kapil Damani, head of bank capital, ABN AMRO

Daniel Fairclough, treasurer, Barclays

Catriona Meharry, group treasurer, Lloyds Banking Group

Donal Quaid, group treasurer, NatWest

Moderator: Toby Fildes, chief product and strategy officer, GlobalCapital