19/07/2013 (Agence Europe) - French bank law enters statute books. French Economy Minister Pierre Moscovici announced in a press release on Friday 19 July that the French parliament has passed a law on the hiving off of speculation from retail banking which will allow the government to suspend or ban risky practices and the sale of toxic products. High-frequency trading, speculation on farm commodities and benchmarking will be covered by strict new rules and a public body has been set up to deal with failed banks to ensure losses are borne by shareholders and lenders. The failed bank body could have a budget of €10 billion by 2020, which is to be provided by the banks themselves. (MB/transl.fl)