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.

PDFPress release

 


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