UK banks may copy Obama plans

London - Britain's banks have said they are studying proposals by US President Barack Obama to limit the size and scope of American banks and finance firms to work out whether they want to head the same way.

"We will be studying the proposals in detail to see where the US and international proposals align with what is already being discussed" in terms of reforms in Britain, said the British Bankers' Association on Thursday.

The country's banks are "listening and they are changing, working with our regulators and the international authorities to restore confidence in the world's financial system," said the group in a statement.

They added discussions were ongoing "on whether further measures are necessary".

Obama's announcement on Thursday sought to roll back corporate excesses and limit dangerous risk-taking, blamed by many for sparking the worst economic crisis since the Great Depression.

It was also the latest attempt by the White House to harness popular fury at Wall Street bonuses and tight credit markets.

The president struck a defiant tone at the White House, warning: "If these folks want a fight, it's a fight I'm ready to have."

- AFP