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‘It’s Time To Bring UK Banks Under Control’

Posted By admin On June 26, 2009 @ 4:10 am In Money Watch | Comments Disabled

Sky News [1]
Friday, June 26, 2009

The Bank of England has released a report which outlines sweeping proposals to bring British banks under control.

The Bank’s quarterly Financial Stability Report calls for an end of “too-big-to-fail” and “too-complex-to-regulate” banks.

But it will take difficult and controversial measures that are unlikely to be popular with banks to achieve this.

Mervyn King has made it clear that regulating the banking system is a priority, but that it is going to take time.

He told the Treasury Select Committee earlier in the week that he and his team still do not know what should be done; defining “regulation” in a modern banking context is proving tricky

Full article here [1]

Its Time To Bring UK Banks Under Control 290509banner [2]


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URLs in this post:

[1] Sky News: http://uk.news.yahoo.com/5/20090625/tuk-it-s-time-to-bring-uk-banks-under-co-45dbed5.html

[2] Image: http://www.efoodsdirect.com/ammo-food.html?aid=14&adid=5

[3] George Osborne accused of lobbying on behalf of banks for weaker regulation: http://www.prisonplanet.com/george-osborne-accused-of-lobbying-on-behalf-of-banks-for-weaker-regulation.html

[4] Bank’s King says two banks almost collapsed last Oct: http://www.prisonplanet.com/banks-king-says-two-banks-almost-collapsed-last-oct.html

[5] Paulson Is Said to Plan Buying Stakes in Regional U.S. Banks: http://www.prisonplanet.com/paulson-is-said-to-plan-buying-stakes-in-regional-us-banks.html

[6] Bring Back Glass-Steagall Curbs for Banks: Bogle: http://www.prisonplanet.com/bring-back-glass-steagall-curbs-for-banks-bogle.html

[7] Crunch far from over, warns Bank of England chief Mervyn King: http://www.prisonplanet.com/crunch-far-from-over-warns-bank-of-england-chief-mervyn-king.html

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