HSBC chief warns hasty regulation could create second crisis - papers

Hastily introduced banking industry regulation risks precipitating a second credit crunch, HSBC chief executive Michael Geoghegan has warned.

Geoghegan says hasty regulation could create second financial crisis, writes the Telegraph. New rules requiring banks to hold larger capital reserves, along with regulation forcing financial firms to split their businesses up could have disastrous consequences for the global economy said Mr Geoghegan in a speech yesterday. Speaking to an audience in New York, Mr Geoghegan said their needed to be wider recognition that the global economy was "still strained". "This isn't banks whingeing," said Mr Geoghegan. "It's a real concern. What if we are right and it leads to further deleverag...