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Alistair Darling set to announce blueprint for banking sector

This week will see Alistair Darling announce his blueprint for the future of the UK banking sector which will include a significant boost in capital requirements, caps on bonuses and an obligation for banks to create their own "living wills". Whether or not these particular initiatives go far enough is debatable but there is no doubt of the need to rein in the power of the UK banking sector and the impact which it has and will continue to have on the UK economy.

Only a few months ago it was revealed that Royal Bank of Scotland and HBOS literally came within hours of collapsing, an event which would have brought down the UK economy. It is this ongoing fear that many banks are still operating in risky markets and looking at risky investments which has forced the hand of the UK government in the short to medium term. Despite the fact that the FSA (Financial Services Authority) has been beefed up over the years there is a feeling that it still lacks the power and presence to make a real difference in the market at the moment.

This week's announcement of the blueprint is unlikely to grab many headlines as there is unlikely to be any surprises from what we have heard over the last few weeks and months.

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