We use necessary cookies to make our site work (for example, to manage your session). We’d also like to use some non-essential cookies (including third-party cookies) to help us improve the site. By clicking ‘Accept recommended settings’ on this banner, you accept our use of optional cookies.
Necessary cookies
Analytics cookies
Yes
Yes
Yes
No
Necessary cookies
Necessary cookies enable core functionality on our website such as security, network management, and accessibility. You may disable these by changing your browser settings, but this may affect how the website functions.
Analytics cookies
We use analytics cookies so we can keep track of the number of visitors to various parts of the site and understand how our website is used. For more information on how these cookies work please see our Cookie policy.
Banking: From Bagehot to Basel, and back again - speech by Mervyn King
In a speech in New York today, the Governor of the Bank of England, Mervyn King, outlines the challenges of managing the financial system and suggests a framework for assessing proposals designed to reduce theriskiness inherent in banking and solve the “Too Important to Fail” problem.
Published on
25 October 2010
Giving the second Bagehot Lecture at the Buttonwood Gathering, Mervyn King explains how the size, concentration and riskiness of banks have grown markedly, as has the size of the shadow banking system. This has increased the degree to which the system is interconnected and given rise to greater uncertainty about where losses will fall in a crisis.
Press release