New Financial Reform Act to give greater powers to BoE
Wednesday 26th May 2010
A new Financial Reform Bill was announced in yesterday’s Queen’s Speech. It will give the Bank of England much more control of the bigger economic picture.
Its objective is to reform the framework for financial services regulation “to learn from the financial crisis”.
If passed, it would give the Bank of England control of “macro-prudential regulation” and it would also oversee “micro-prudential regulation”.
The main benefit would be to ensure that risks and imbalances in the economy are properly monitored and managed, to maintain financial stability.
The announcement of the Bill follows the Conservative paper last year on ‘Plan for Sound Banking’.
(0) Comments | Report Abuse
DISCLAIMER:The views contained in these user comments are not endorsed by Introducer Today(nor its associates and advertisers) in any way and are provided by users who wish to publish their independent opinions on our news.Whilst every effort is made to moderate these comments,due to the instant nature of the posting not all offensive material can be removed instantly.Please help us keep the comments areas tidy by reporting details of any infringements to email@example.com
Editorial Contact Details - Rosalind Renshaw