King moots Glass-Steagall revival

Mervyn King, the governor of the Bank of England, has called for a debate on whether the global financial crisis has shown that a Glass-Steagall type provision is needed to prevent retail deposits from being used to fund investment-banking activities.

King told bankers in London on Tuesday: "There are good arguments in favour - to separate the utility functions of a retail bank taking household deposits and running the payments system from casino trading of an investment bank, and good

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