Calls for Bank to retake control of regulation

The leader of Britain's main opposition party wants the Bank of England to regain its role in regulating the overall level of debt in the banking system.

David Cameron, the leader of the opposition Conservative Party, said on Tuesday that the Financial Services Authority (FSA), the industry regulator and the brainchild of current prime minister Gordon Brown, should cede control of supervising bank debt to the Bank, which he termed as "the only institution with the authority, respect and influ