UK coalition gives Bank lead regulatory role

bank-of-england

Britain's Conservative and Liberal Democrat parties revealed plans to give the country's central bank a greater role in financial regulation on Wednesday. The country's first coalition government in 70 years said it would "bring forward proposals to give the Bank of England control of macroprudential regulation and oversight of micro-prudential regulation." The regulatory system "needs reform to avoid a repeat of Labour's financial crisis," the coalition statement read, but the parties stoppe