The Chancellor's attempts to "re-set" Britain's banking system still do not go far enough, a panel set up following the industry's Libor-fixing scandal said today.
On the day that MPs debate the Banking Reform Bill, the Parliamentary Commission on Banking Standards stepped up pressure on the Government to back recommendations from its first report not currently in the planned legislation.
In particular, it wants more powers for the Bank of England to control how much banks can borrow, as well as for regulators to have the power to force a complete split of retail and investment banking operations.
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The chancellor - having won the argument within Cabinet - has told ITV News he is targeting a swift start to talks on the interim deal.