The FINANCIAL — Banks back calls for a package of considered measures to boost the success and competitiveness of the UK's financial services in Europe the British Bankers' Association said on February 11.
The inquiry from the House of Lords into the European Commission's Review of the Single Market also suggested the need to consolidate wholesale markets.
The BBA's recommendation for the European Commission to undertake more detailed consumer research before taking action on retail financial services was taken up by the Lords Committee.
Chief Executive Angela Knight said:
"Europe represents a very big part of the business which goes on across all aspects of financial services in the UK. We have got to be in there to help shape the future for the good of banks and customers alike.
The British Bankers Association is pleased the report echoed many of our own thoughts about the best way forward. We hope the Government takes the conclusions into negotiations in Brussels on the future of the Single Market."
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