Credit is Trust - speech by Andy Haldane

In a speech given today to the Association of Corporate Treasurers in Leeds, Andrew Haldane - Executive Director for Financial Stability - talks about the parallels between the current financial crisis and those of the past, and the enduring importance of trust between banks and their customers.
Published on 14 September 2009

Looking at the development of Yorkshire's financial sector since the 18th century, he says success was built on awareness of, and responsiveness to, the needs of the customer; a focus on long-term relationshipbuilding and recognition of the benefits of mutualising both risks and returns. "In short, the importance of banks being built, first and foremost, on trust."

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