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Competition, the pressure for returns, and stability - speech by Paul Tucker
Speaking in London today, Paul Tucker – the Bank’s Deputy Governor for Financial Stability and a member of both the Financial Policy Committee (FPC) and the Monetary Policy Committee (MPC) – considers the factors driving excessive risk-taking in the financial system leading up the crisis, and outlines some of the key aspects of the reform of banking.
Published on
17 October 2012
He says “the changes are profound”. But in “overhauling the ‘rules of the game’ for global finance”, he emphasises that the goal of the international authorities is not to abolish risk or risk-taking. “We need to find broadly the right balance between, on the one hand, safety and, on the other hand, the contribution that sound and honest finance can make to economic prosperity”.
Press release