FSA and Bank of England: Bank Supervision Squabble
Published / Last Updated on 23/06/2009
FSA and Bank of England: Bank Supervision Squabble
Mervyn King, Governor of the Bank of England, has requested that the supervision of Banks in the UK should be returned to the Bank of England and taken away from the financial industry regulator, the Financial Services Authority (FSA).
This in effect creates a tug of war as the FSA is being blamed for its lack of supervision or indeed intervention of banks and their capital adequacy position.
We suggest the move is a good one. Unless the FSA can demonstrate that is has the necessary experience to regulate banks, the job should be with those that do.
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