UK chancellor outlines regulatory changes

In a bid to prevent another Northern Rock, Alistair Darling, Britain's chancellor of the exchequer, has pledged to make the government ultimately responsible for actions to counter banking crises.

The government now shares the burden for decision-making with the Bank of England and the Financial Services Authority (FSA), the industry regulator, under the United Kingdom's tripartite system of supervision.

But the chancellor told the Financial Times newspaper that making the government

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