Rock run calls for greater role: ex-Bank deputy

Andrew Large, a former deputy governor at the Bank of England, has urged government to grant more power to the Bank in the wake of the Northern Rock run.

Writing in the Financial Times, a newspaper, Large said that it was essential that the regulatory changes to address the failure of Northern Rock recognised the Bank's monopoly in providing risk-free cash.

"The central bank's monopoly puts it at the heart of two vital areas - monetary policy and financial stability," Large said. "Events that

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