June 29, 2017 / 9:16 AM / 2 months ago

UK's 'City' minister says mindful of rules banks now facing

LONDON, June 29 (Reuters) - The government is fully aware of the welter of new rules banks are facing at a time of low interest rates and other challenges, Britain's new financial services minister said on Thursday.

Two weeks into the job, Stephen Barclay, who is a former financial regulator and has worked in banking, said it was very clear that the pace of regulation has not abated.

"In government we need to be mindful of the cumulative impact," Barclay told a British Bankers' Association conference.

Reporting by Huw Jones

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