MARKET TALK: Banks Should Feel 'Cautious Relief' On Changes

17th Jun 2010 10:44

0944 GMT [Dow Jones] Exane analyst Ian Gordon says UK banks should feel "cautiously relieved" by the tone and content of Chancellor George Osborne's speech to City executives Wednesday night, which laid out plans to fold the supervisory powers of the FSA into the Bank of England and named John Vickers as head of the commission that will review whether banks need to be broken up. Gordon says the "worst outcome" seems to already be priced into Barclays (BCS) shares, the bank that would be most affected by a break-up. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 17, 2010 05:44 ET (09:44 GMT)