He begins by reviewing the actions taken in the UK to address the weaknesses in regulation exposed by the crisis. He highlights the regime now in place to resolve a failing bank and the greater clarity about ‘who’s in charge’ in a crisis. He also notes the changes being made to the organisation and approach to supervision of individual institutions and recognition of the fact that there needs to be greater attention to system-level developments in focussing micro-supervision. That has led to the creation of the FPC, which is currently operating in interim form.
Published on
24 May 2012
Press release