伦敦同业拆借利率丑闻事件引发了市场改革的呼声。英国和欧洲监管机构纷纷主张分割零售银行与投资银行业务。

London interbank lending rates scandal has sparked calls for reform.British and European regulators have advocated segmentation retail banking and investment banking.

　　欧洲一体化市场曾经展现出旺盛的生命力，但是债务危机却使生机勃勃的欧洲大陆市场变得千疮百孔。投资者纷纷从深陷危机泥潭的欧陆各国撤出资金，并将其转移到北欧市场。如今，欧洲货币市场似乎已经支离破碎。对于各国银行机构而言，它们很难再为本国政府提供新的资金支持。与此同时，欧盟监管机构强力呼吁各国金融机构提升资本缓冲标准。

European integration had market show a strong vitality,But the debt crisis but vibrant continental Europe market become full of holes.Investors are in crisis from the mire continental European countries out of funds,And transferring them to the Nordic market.now,European monetary market seems to have fragmented.For countries in terms of banking institutions,It is very difficult for them to their government to provide new financial support.meanwhile,The eu regulators strongly urged world financial institutions to improve capital buffer standard.

　　目前，欧盟正在着手解决新一轮的行业壁垒。与以往不同的是，这一次监管机构将矛头对准了本地区的大型银行。10月，芬兰中央银行行长埃尔基·利卡宁（Erkki Liikanen）领导的顾问团队建议各国大型银行将自营交易和市场化经营活动纳入到独立运作的附属资本机构。这一建议旨在将银行机构的存贷款业务与风险性更高的市场经营活动剥离开来，降低金融机构未来的资金援助总额。在2008年至2009年的全球金融危机中，各国纷纷不遗余力地为本国银行机构提供紧急援助资金，帮助后者渡过难关。

At present,The European Union is addressed a new round of trade barriers.And the past is different,This time regulators will be aimed at a large bank in this region.October,Finland central bank governor el base · LiKaNing(Erkki Liikanen)Leadership team of consultants suggest countries large Banks will proprietary trading and market business activities into the independent operation of subsidiary capital institutions.The proposal to the Banks loan business and risk higher market business activities of separating them,Reduce the financial institutions in the future the total financial aid.In 2008 to 2009 in the global financial crisis,Various countries to spare no effort to its banking institutions provide emergency aid,Help the latter tide over the difficulties.

　　业务分割势在必行

Business division is imperative

　　利卡宁的调查报告肯定了英国银行业独立委员会的研究结果，后者建议英国各大银行应当逐步分离附属机构的存款业务，并使它们免受投资银行业务风险的侵蚀。该委员会由英国经济学家、牛津大学万灵学院校长约翰·维克斯爵士（Sir John Vickers）挂帅。然而，无论业务剥离方式如何，其本质是相同的，即将市场经营活动分离出去，或者将零售银行业务划归其他机构。分析人士认为，此举很可能导致一系列附加成本和管理上的混乱。对于身陷困境的欧洲各国银行机构来说，这无异于雪上加霜。美国所谓的沃尔克准则（Volcker Rule）明确禁止银行从事自营交易活动和大量投资私募股权。与此相比，欧洲银行监管机构则允许银行机构维持现有的业务范围。

LiKaNing report must be the British banking independent commission research results,The latter suggested British Banks shall gradually separate subsidiary deposit business,And make them from investment banking risk of erosion.The committee is made up of British economist/Oxford University all parapsychics arf John d Sir Alex(Sir John Vickers)commercialization.however,No matter how business stripping way,Its essence is the same,The market business activities separation,Or will the retail banking business to other organizations.Analysts believe that,The move is likely to lead to a series of additional cost and management confusion.In a dilemma for the European countries for banking institutions,This would be frightening.The so-called volcker criterion(Volcker Rule)Specifically prohibits bank engaged in proprietary trading activities and a large number of private equity investment.Compared with the,The European banking supervision institution will allow Banks to maintain existing business scope.

　　尽管上述建议在欧洲颇有市场，但实践证明，业务分割的监管举措难以实施。利卡宁的建议仅仅提出了几个星期，目前还不清楚欧盟内部市场与服务委员米歇尔·巴尼耶（Michel Barnier）是否会采取立法的形式推行业务分割。虽然英国提出分割监管的方案已达一年之久，但是监管机构与政客们就是否采用立法推行此项议案仍然相持不下。经过了数月的磋商与讨论，结果仍未能见分晓。

Although the above Suggestions in Europe quite have the market,But the practice has proved,Business division regulatory measures is difficult to implement.LiKaNing Suggestions put forward only a few weeks,It is not clear the internal market and services committee Michael Mr Barnier(Michel Barnier)Whether it will take the form of legislation implement business division.Although Britain put forward division regulation scheme has been up to a year,But regulators and politicians is whether to adopt legislative implementation of the bill would still be locked in a stalemate.After months of consultation and discussion,The results are still not clear.

　　2011年9月，维克斯领导的银行业独立调查委员会正式提出了分割监管的方案。此前，他们已经进行了为期一年的实地调研。英国首相大卫·卡梅伦（David Cameron）领导的英国政府迅速签署了委员会提交的议案，并于6月发布了政府白皮书。虽然政府白皮书详细阐明了推行分割监管的方式，而且在上个月还公布了立法草案，但是此项议案在国会的审议过程中却步履蹒跚、一波三折。法律制定机构和监管部门仍在努力挖掘新体系的必备要素。伦敦投资证券公司银行业务分析师伊恩·戈登（Ian Gordon）表示：“分割监管模式的前景仍然扑朔迷离，我对此也是一无所知。但目前有一点可以肯定的是，质疑的声音远大于支持者的呼声。”

In September 2011,The leadership of the vickers banking independent investigation committee officially proposed segmentation scheme of supervision.after,They have conducted one-year on-the-spot investigation.British prime minister David Cameron(David Cameron)Under the leadership of the British government has signed the committee's bill,And in June the government issued a white paper.Although the government white paper discussed in detail the implementation of the segmentation supervision mode,And in the last month announced the draft legislation,But the bill in congress process is rolled up/Full of twists and turns.Laws institutions and regulators are still trying to identify new system the necessary elements.The London investment securities company banking analysts Ian Gordon(Ian Gordon)said:"Division regulation model of future remains elusive,I'm also know nothing.But the one thing is for sure,The voice of the question than the voice of supporters."

　　毫无疑问，强化对银行业的监管力度势在必行。6月份，伦敦同业拆借利率丑闻事件曝光。巴克莱银行为此支付了4.55亿美元的罚金，原因在于它试图操纵银行同业基准利率。一旦该利率被人为操纵，那么银行业所面临的监管压力将大大减小。7月份，卡梅伦组建了银行业标准国会专题调查委员会（Parliamentary Commission on Banking Standards），该委员会由十人组成，主要负责调查利率冲突、银行业专项标准以及行业文化等问题，并找出推行维克斯银行业独立委员会提出的分割监管的最佳方法。

There is no doubt that,Strengthen the supervision of the banking industry is imperative.June,London interbank lending rates scandal exposure.Barclays bank pay a $455 million fine,The reason is that it attempts to manipulate interbank rate.Once the interest rate by artificial control,So facing the banking regulatory pressure will be greatly reduced.In July,Cameron established banking standard congress special investigation committee(Parliamentary Commission on Banking Standards),The committee consists of ten members,Mainly responsible for research interest conflict/Banking special standards and industry culture and other problems,And find out the implementation of the vickers banking independent committee put forward the best way of the division of supervision.

　　伦敦同业拆借利率丑闻事件更加使利卡宁团队相信，欧盟迫切需要对银行业实施结构化监管，将存款业务与高风险经营活动区分开来。

London interbank lending rates scandal more LiKaNing team believe that,The urgent need for banking supervision implementing structured,Will deposit business and high risk business activities to distinguish.

　　利卡宁团队建议各大银行剥离自营交易和市场化经营业务，上述业务的资产总额甚至超过1000亿欧元（约合1290亿美元），或者占到整个银行机构资产负债表的15%到25%。野村证券伦敦分公司银行业分析师罗恩·佩斯（Jon Peace）预计，此项规则将会影响包括德意志银行、法国巴黎银行和兴业银行(601166,股吧)、意大利联合圣保罗银行和西班牙桑坦德银行等在内的十九家银行机构。

LiKaNing team suggest each big bank stripping proprietary trading and market business,The total assets of the business or even more than 100 billion euros(Us $129 billion),Or to the whole banking institutions accounted for 15% to 25% of the balance sheet.Nomura securities London branch banking analysts RON pace(Jon Peace)Is expected to,This rule will affect including deutsche bank/BNP paribas and societe generale(601166,guba)/Italian joint Sao Paulo Banks and Spanish santander bank, 19 banking institutions.

　　英国的维克斯委员会建议所有零售银行必须全面系统地推行分割监管，这一点尤为重要。此举将给该国的巴克莱银行、汇丰控股银行、劳埃德银行集团、苏格兰皇家银行和英国桑坦德银行带来深远影响，而它们正是英国银行业的五大支柱。根据立法草案的要求，上述银行不得不将零售银行业务独立化运作，使其独立于母公司机构，并向它们提供资本支持。然而，立法草案并未说明将采取何种方式推进此项工作。很多悬而未决的细节内容将在所谓的第二轮立法会议上由财政官员加以补充完善，正如多德-弗兰克华尔街改革与消费者个人保护法案（Dodd-Frank Wall Street Reform and Consumer Protection Act）要求美国监管机构评估规则细节的可行性一样。该委员会保守党成员马克·卡尼尔（Mark Garnier）告诉机构投资者：“从行业本质的角度来看，目前唯一切实可行的做法就是将零售存款与自营交易区分开来，前者不会纳入分割监管的范畴。”

Britain's vickers committee recommended for all retail bank must comprehensively implement supervision division,This is especially important.The move will give the country's barclays bank/HSBC holdings bank/Lloyds banking group/Royal bank of Scotland and England santander bank brings profound influence,And they are the British banking five pillar.According to the requirements of the draft legislation,The bank will have to DuLiHua retail banking operation,Make it independent of the parent institution,And ask them to provide capital support.however,The draft legislation did not specify what will approach to promote the work.A lot of the details of the content will be in the second round of the council on legislation to be supplemented by the Treasury officials perfect,As dodd - frank Wall Street reform and consumer individual protection act(Dodd - Frank Wall Street Reform and Consumer Protection Act)Demand that the United States regulators evaluation rules as the feasibility of the details.The committee members of the conservative party mark card Neil(Mark Garnier)Tell institutional investors:"From the point of view of nature of the industry,The only feasible way is to retail deposits and distinguish proprietary trading,The former not included in the category of supervision division."

　　该委员会主席安德鲁·特雷（Andrew Tyrie）在上个月举行的下议院（the House of Commons）会议上表示：“草案的诸多细节内容将在第二轮立法会议上敲定。我们都非常渴望找到遏制危机的办法。”

The committee chairman Andrew tere(Andrew Tyrie)In the last month the house of Commons(The House of Commons)The meeting said:"Many details of the draft in the second round of the council on legislation finalized.We are all very eager to find a way to contain the crisis."

　　改革成本不菲

Reform cost does not poor

　　对银行机构采取严格监管措施的论调不足为奇。自从金融危机以来，英国公众对于银行机构的批评和指责铺天盖地，行业形势比美国更为严峻。即便在巴克莱银行支付罚金以后，英国财政大臣乔治·奥斯本（George Osborne）仍然不依不饶，呼吁继续强化对银行业的监管。他在下议院表示，我们在2005至2007年期间清楚地看到了金融机构整合的高昂成本，它们贪得无厌、私欲膨胀。更为可恨的是，这些机构对自己的所作所为没有丝毫的愧疚。因此，维克斯委员会的分割监管方案被认为是在维持银行业现有格局和零售与投资银行分离管制之间的折中。基于格拉斯-斯蒂格尔法案（Glass-Steagall Law）的要求，零售银行与投资银行必须相互分离。直到1998年，该法案才被正式付诸实施。英格兰银行行长默文金（Mervyns King）表示，他在一年前非常希望能有一部适用于英国银行机构的现代版格拉斯-斯蒂格尔法案。

Banking institutions to take strict supervision measures not surprising that argument.Since since the financial crisis,The British public to the banking institutions and criticism blots out the sky,Industry situation more severe than the United States.Even in the barclays bank to pay a fine later,British finance minister George osborne(George Osborne)Still take off the gloves,Calls for continued to strengthen supervision of banking.He said in the house of Commons,We in the 2005 s and 2007 s clearly see that the integration of financial institutions the high cost,They greed/Desires expansion.More hateful is,These institutions to their actions without any guilt.so,Vickers committee division regulation scheme is considered in maintaining the existing pattern and retail banking and investment banking separation between control of compromise.Based on the glass-steagall act(Glass - Steagall Law)requirements,Retail Banks and investment Banks must be separated.Until 1998,The bill to be formally put into practice.The bank of England governor Mervin gold(Mervyns King)said,A year ago he very much hope to have a suitable for the bank of England mechanism of the modern version of the glass-steagall act.

　　对于英国银行家来说，近期闹得沸沸扬扬的监管争议已经引发了市场的诸多不确定性，这恰恰是他们不希望看到的局面。在他们看来，一切似乎已经尘埃落定，只是时间早晚的问题。在维克斯委员会发布最终报告之前，几位银行业高管公开表达了对零售银行和投资银行业务分割管理的反对。2011年6月，苏格兰皇家银行（RBS）首席执行官斯蒂芬·赫斯特（Stephen Hester）向下议院财政委员会表示，分割监管不过是打着政府保护的旗号强化对零售银行的控制而已，此举将增加后者面临的道德风险。

In the UK for bankers,Recent making the news supervision dispute has sparked market many uncertainty,This just is they don't want to see the situation.In their eyes,Everything seems to have the dust settles,Is only a matter of time before.In the vickers committee issued before the final report,Several banking executives publicly expressed retail banking and investment banking division management against.In June 2011,Royal bank of Scotland(RBS)CEO Stephen hurst(Stephen Hester)To the house of Commons finance committee said,Division regulation but is under the flag of government protection to strengthen the control of retail bank only,This will increase the latter facing moral risk.

　　英国政府迅速接受了维克斯委员会的建议，这令大多数银行家哑口无言。赫斯特没有再反对政府的决定，因为他所在的银行在接受了政府巨额资金援助后，国有股份已占到82%。2011年10月，赫斯特对另一个委员会表示，尽管分割监管已是板上钉钉，但是他坚信此项建议的成本远远大于其收益。对分割监管批判最为激烈的当数巴克莱银行前首席执行官小罗伯特·戴蒙（Robert Diamond Jr.），这位备受瞩目的银行家却因为伦敦同业拆借利率丑闻事件而被迫辞职下台。

The British government quickly accepted vickers the committee's recommendations,This makes most bankers speechless.Hurst no longer oppose the government's decision,Because his bank in accepting the government aid after large sums of money,State-owned shares has accounted for 82%.In October 2011,Hurst to another committee said,Although segmentation supervision is board nailing,But he believes that the suggested cost is more than the benefits.The most intense criticism of segmentation supervision when number barclays bank former CEO little Robert Damon(Robert Diamond Jr.),The high-profile bankers but because London interbank lending rates scandal, was forced to resign to step down.

　　目前，各大银行仍然保持沉默。英国零售银行的一位高管表示自己每天都在与监管机构沟通。在他看来，分割监管的成本虽然不容小觑，但总体上仍在可控范围之内。这位银行家预计，针对银行业监管议案实施细节的游说活动还将持续18个月左右。他说：“我认为50%至70%的细节问题即将得到落实。”

At present,Banks still keep silence.British retail bank an executive said he every day in and regulators communication.In his view,Although the cost of supervision division to be reckoned,But in general is still in the controllable range.The bankers expected,According to the banking supervision bill details of the implementation of the lobbying activities will continue to eighteen months.He said:"I think that 50% to 70% of the details will be implemented."

　　对于英国银行业而言，将零售业务纳入独立的分支机构必须考虑成本要素。尽管业内已经预料到这一点，但是几乎所有人都明白此项改革将付出不菲的代价。政府机构预测，改革草案中的这项条款将使银行业每年付出20亿英镑至50亿英镑的成本。很多分析师认为实际数字很可能还要更高。野村证券公司的佩斯说：“在我们看来，分割监管将使银行机构的年运营成本增至70亿英镑，几乎相当于整个英国银行业总利润的20%。”作为英国最大的投资银行，巴克莱银行将成为主要的受害者之一。佩斯预计，该银行将为此承担20亿英镑的成本支出。既然如此，那么原因在哪里呢？对于投资银行分支机构来说，在资本需求增加的同时，融资成本也在随之上升，因为它们再也不能借助母公司的影响力而获得较高的信用评级。英国零售银行很快就会面临这种局面。

For UK Banks,Will the retail business into independent branch must consider the cost factor.Although the industry had been expecting it,But almost everyone knows this reform will pay the price does not poor.Government agencies prediction,A draft of the reform of the clause will make banking every year 2 billion pounds to pay the cost of 5 billion pounds.Many analysts believe the actual number will likely higher.Nomura securities company's pace said:"In our view,Division regulation will make banking institutions in the operation cost increased to 7 billion pounds,Britain's banking industry is almost equal to the total 20% of the profits."As Britain's largest investment bank,Barclays bank will become one of the main victims.Pace is expected to,The bank will assume the costs 2 billion pounds.so,So where is the reason?For the investment bank branches speaking,In the capital requirement increases at the same time,Financing cost also then rise,Because they can no longer with the influence of the parent company and obtain higher credit rating.British retail bank will soon face the situation.

　　与此同时，英国政府还打算提升那些接受分割监管零售银行的资金门槛。这些实体组织必须将经营损失吸纳资金总额提高到风险加权资产的17%，其中至少包括10%的股票资金和长期性无担保债务（即所谓的保释债务）。这些资金可以在危机时期弥补银行机构的经营损失。与此相比，新巴塞尔协议（Basel Ⅲ）要求各国必须将资本储备总额控制在7%以上，以应对突发性的行业危机。重要的组织机构还必须将附加的资本缓冲比例提升至3.5%。

meanwhile,The government also plans to improve those who accept supervision division retail banking capital threshold.These entities must be organization operating loss of total absorbing funds raised to 17% of risk-weighted assets,Including at least 10% of the stock funds and long-term unsecured debt(The so-called bail debt).These funds can be in crisis management of the banking institutions make up for the loss.Compared with the,The new Basel agreement(Basel Ⅲ)Requires countries must control the total capital reserve more than 7%,In response to sudden industry crisis.Important organization must also will additional capital buffer scale up to 3.5%.

　　银行界普遍不感冒

Banks generally don't catch a cold

　　银行界人士警告说，分割监管成本将使零售银行的信贷业务逐渐趋于恶化。

Bankers warned,Segmentation supervision cost will make retail bank credit business gradually tend to worse.

　　巴克莱银行集团总顾问马克·哈丁（Mark Harding）在上个月告诉上议院（the House of Lords）附属委员会：“此举不仅会增加银行整体的融资成本，而且还可能削弱零售银行和批发银行的竞争力。”

Barclays bank group general counsel mark Harding(Mark Harding)In the last month told the house of lords(The House of Lords)subcommittee:"This will not only increase the overall bank financing cost,But also may weaken the retail banking and wholesale bank competitiveness."

　　对于欧盟银行业来说，利卡宁团队的改革建议也同样会导致成本的大幅上升。佩斯认为，对于包括法国巴黎银行在内的欧陆大型银行机构而言，利卡宁的监管改革将使其年经营成本增至10亿美元左右。

For the European Union for the banking industry,LiKaNing team reform Suggestions also can lead to cost rise sharply.Pace think,In Paris, France, including bank of Europe for large Banks,LiKaNing regulatory reform will make its annual operation cost increased to 1 billion dollars.

　　除了成本之外，很多人也在质疑分割监管的有效性。对于那些重要的零售银行机构来说，分割监管与政府鼓励零售银行竞争的初衷相背离。柏瑞投资公司的阿尼克·森说：“我认为此项改革将终结英国零售银行业的寡头垄断地位，而这并非是大家所期盼的结果。大型银行应当具备良好的风险控制体系。只有这样，它们才可能吸收到更多的存款。”在他看来，巴克莱银行、汇丰银行、劳埃德银行、苏格兰皇家银行和英国桑坦德银行的零售银行部门将成为实际的受益者。目前，上述大型银行已经基本掌控了零售银行市场。行业机构统计数据显示，2011年，它们在新增贷款和信用卡贷款业务方面表现出色，分别占据了上述市场的69%和60%。

In addition to outside cost,A lot of people are also questioned the validity of the supervision division.For those important for retail banking institutions,Division regulation and government encourages retail banking competition purpose phase deviation.BaiRui investment company, Nick's said:"I think this reform will end the retail banking oligarchic monopoly position,But it is not everyone expected results.Big Banks should possess good risk control system.Only in this way,They can absorb more deposit."In his view,The barclays bank/HSBC bank/Lloyd's bank/Royal bank of Scotland and England santander bank retail banking sector will be the real beneficiaries.At present,The big Banks have basic control of the retail banking market.Industry statistics institutions,In 2011,,They are in new loans and credit card loan business performance,Occupy the market respectively 69% and 60%.

　　奥斯本已经批准了维克斯委员会关于提升零售银行竞争力的议案。他指出，日趋恶化的金融危机导致苏格兰哈里法克斯银行（HBOS）和布拉福德-宾利银行（Bradford & Bingley）最终被淘汰出局，前者被劳埃德银行集团收购，后者在2008年被桑坦德银行兼并。值得一提的是，英国政府拥有劳埃德银行43%的股份，而布拉福德-宾利银行曾是动产抵押贷款领域的领军企业。维克斯委员会主席特雷在近期举行的银行业联盟会议上的发言中呼吁提升零售银行的竞争力。

Osborne has approved the vickers committee about improving the competitiveness of retail bank bill.He pointed out that,Deterioration of the financial crisis led to halifax bank of Scotland(HBOS)And Bradford - bentley bank(Bradford & Bingley)Finally was eliminated,The former was Lloyd's bank group acquisition,The latter in 2008 by santander bank merger.Be worth what carry is,The British government has Lloyd's bank 43% of the shares,And Bradford - bentley bank was chattel mortgage loan leading enterprise in the field of.Vickers committee chairman tere in a recent banking union conference speech calling for improve the competitiveness of retail banking.

　　在很多政客的眼中，仅仅剥离零售银行业务根本不足以改变投资银行的经营文化。英国首相卡梅伦通过组建国会调查委员会清晰地表达了自己的立场和态度。在他看来，伦敦同业拆借利率被人为操纵所导致的直接后果就是那些房屋所有者不得不为此支付更高的抵押贷款利率。这种贪婪的丑行实在令人难以容忍。此外，银行机构的很多其他业务也可能存在违法行为。

In the eyes of many politicians,Just peel retail banking fundamental enough to change the investment bank's business culture.British prime minister Cameron by setting up congressional investigation committee clearly expressed his position and attitude.In his view,London interbank lending rates by artificial control caused by the direct consequence that homeowners have to pay higher mortgage rates.The greedy ignominy really hard to bear.In addition,Many of the other business banking institutions may also be illegal behavior.

　　利卡宁在10月举行的国会听证会上承认，他所提出的分割监管建议存在一定的不足。“我无法保证分割监管对转变经营文化的作用程度，至于它是否能够帮助银行机构由目前的交易导向文化过渡到顾客经营导向文化还是一个未知数。”他说。

LiKaNing held in October's congressional hearing admit,He has put forward Suggestions of the division of supervision there are some shortage."I can't guarantee division regulation on transformation of the role of business culture level,As for whether it can help Banks from the current trading guide cultural transition to the customer management guide culture is still a unknown."He said.

　　不过，一些出席听证会的人士也告诉国会委员会，分割监管未必能够持续下去。维克斯委员会成员、巴克莱银行前首席执行官马丁·泰勒（Martin Taylor）表示，他非常支持禁止某些特定的风险经营活动。维克斯团队之所以没有坚持彻底的分割监管主要是担心某些银行机构迁至国外市场，从而影响伦敦的全球金融中心地位。然而，现在看来，这种想法有些杞人忧天。

but,Some at the hearing people also told congressional committee,Division regulation may not be able to continue.Vickers committee members/Barclays bank's former chief executive Martin Taylor(Martin Taylor)said,He is very support prohibit certain risk management activities.Vickers team did not adhere to the complete segmentation supervision is mainly worry some banking institutions moved to foreign markets,Thus affecting the London global financial center position.however,Now it seems,The idea some borrow trouble.

　　英国银行金融稳定委员会高级董事安德鲁·哈尔丹（Andrew Haldane）在监管改革方面颇有建树。他在10月的讲话中明确指出要严格执行零售银行与投资银行的划分。在他看来，很多银行内部都很难划定两者之间的界限。哈尔丹说：“高私营收益的投资银行业务将很多人士和资源拒之门外，而它们正是高社会收益的投资银行业务的主要贡献者。此外，投资银行业务还享用了成本低廉的存款资金。从实际效果上讲，很多银行往往致力于私营业务的最优化，从而使公共业务处于次优化的位置。”

The bank of England financial stability committee senior director Andrew Hal Dan(Andrew Haldane)Regulatory reform in a deal.In October he speech clearly points out that we should strictly carry out retail banking and investment banking division.In his view,Many Banks internal were difficult to delimit the boundary between the two.Hal Dan said:"High private benefits of investment banking business will be a lot of people and resources to close the door,And they are the high social income of investment banking business major contributors.In addition,Investment banking also enjoy the low cost savings funds.From actual effect speak,Many Banks often devoted to private business optimization,So that the public service in time the location of the optimization."

　　对此，很多银行客户都深有同感。英国伦敦商会高级政策顾问麦克·斯皮瑟（Mike Spicer）告诉国会委员说，该组织成员希望英国银行业能够深化改革，推动信贷业务的增长。英国伦敦商会拥有10万名中小企业会员。斯皮瑟告诉机构投资者说：“监管改革将带来长期性的收益。根据我们调查的结果，有半数的商会成员不信任银行机构。因此，银行机构必须明确投资银行业务与零售银行业务的划分，而这将有助于它们重新赢得市场。”

this,A lot of bank customers are deeply feel the same way.London chamber of commerce senior policy adviser Michael Joseph, skin(Mike Spicer)Tell congress members said,The group members wanted to Britain's banking industry, which can deepen the reform,Promote the growth of the credit business.London chamber of commerce has 100000 small and medium-sized enterprise members.Skin, also tell investors said:"Regulatory reform will bring long-term benefits.According to the results of our survey,A half of the chamber of commerce members don't trust banking institutions.so,Banking institutions must be clear about the investment banking and retail banking division,And this will help them to win the market."

　　（本文来自机构投资者在线ichina.com）

(This paper from institutional investors online ichina.com)