The collapse of two banks within days of each other is likely to pile pressure on the UK government's plans to tear up the City's rulebook, regulatory experts say.

The government is currently consulting on a host of measures to cut red tape across the Square Mile through its so-called Edinburgh Reforms. However, recent crises in the banking sector have left some questioning whether existing rules are tough enough as it stands to stop future collapses, and whether now is the right time to loosen the shackles on lenders.