UK banking reform aims to provide security for savers

Measures to give savers extra security if a bank fails will be announced by the British government today as part of major reforms for Britain's banking system.

Measures to give savers extra security if a bank fails will be announced by the British government today as part of major reforms for the UK banking system.

British Chancellor George Osborne will unveil his long-awaited banking White Paper, which follows last year's recommendations by the Independent Commission on Banking (ICB), led by John Vickers, on how to make the sector safer and give greater protection to depositors.