Friday, 12 April 2013

UK: 'Turning the red tape tide' - a speech from the Bank of England's director for financial stability

A copy of a speech titled "Turning the red tape tide", delivered by Andy Haldane, the executive director for financial stability at the Bank of England, has been published by the Bank: see here (pdf). Mr Haldane used his speech to ask some important questions which he said should form the new regulatory battleground. Is risk-weighting of bank assets worth the costs? Are bank’s internal risk models more regulatory trouble than they are worth? Does complexity unduly advantage large incumbents over small new entrants? Are armies of supervisors and compliance officers a sign of success or failure?

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