'Draconian' bank reforms will spark crisis - today's papers

Thursday's newspapers almost unanimously report on fears the recommendations of the Independent Commission on Banking could trigger a fresh banking crisis. Here’s our round-up of the best of them...

Pressure is growing on the Government to pull back from imposing draconian new rules on banks amid worries that a new banking crisis is brewing, writes the Telegraph. 

Less than two weeks before the publication of the final report of the Independent Commission on Banking, senior politicians and financiers have warned its recommendations could imperil Britain's banks.

Andrew Tyrie MP, chairman of the Treasury Select Committee, told The Daily Telegraph he was worried that pushing banks to take on more expensive funding could damage them at a time when they are ill-equipped to deal with it.

"Now is not the time to implement liquidity requirements that are above those proposed internationally," said Tyrie.MORE...

See more on banking reform in today's papers:

Guardian

Independent

Elsewhere, one in three bosses will slash their workers' pensions when new government rules come into force next year, a report warns today, writes the Mail. MORE...

Sir Mervyn King, Governor of the Bank of England, would have been sacked three years ago if the Labour government could have found another candidate, writes the Independent.  MORE...

Adam Posen, the arch-dove of the Bank of England's Monetary Policy Committee, has issued his loudest call yet for the world's central banks to embark on another round of quantitative easing in order to prevent a return to global recession, writes the Independent. MORE...

Customer complaints against one of Britain's biggest banks soared by as much as 75 per cent in the first half of this year, writes the Mail. MORE...