Mervyn King: ‘Banks sought to pressure ministers’

Mervyn King: ‘Banks sought to pressure ministers’
 

SIR Mervyn King fired a parting shot at banks yesterday as he attacked lenders for their intense political lobbying against tougher balance sheet rules.
In his last appearance in front of MPs on the Treasury Select Committee before handing the reins to Mark Carney next week, the Bank of England governor said banks sought to put “tremendous pressure” on politicians at the highest levels to lean on regulators to water down demands to raise capital strength.
He said there were “certainly calls made to Number 11 [Downing Street] and even in some cases Number 10” to put pressure on the... read more

 
26 June 2013 in Business, Views: 10
Source: Scotsman
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