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<p>Since 2010 the government has:</p><ul><li><p>legislated for the ring-fencing of
large banks’ retail arms from their investment banking arms;</p></li><li><p>ensured
that the senior managers of banks are held accountable for their decisions; and</p></li><li><p>put
the Bank of England back in charge of bank prudential regulation.</p><p> </p></li></ul><p>The
IMF noted in its recent Article IV concluding statement that “owing to a large extent
to a wave of welcome regulatory reforms since the crisis, the main parts of the UK
financial system appear resilient”.</p><p> </p><p>The Government agrees with the IMF’s
assessment.</p>
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