FSA wants to limit excessive risk taking

The Financial Services Authority (FSA) is putting forward new rules on lending and to prevent banks taking excessive risks. Chairman of the FSA Lord Turner wants banks to publish more and clearer information in their accounts about the risks they are taking, while a pan-European body has been proposed to set standards for other regulators to follow. A shake-up in the relationship between the FSA, Bank of England and the Treasury is also set to be proposed.