We will need counter-cyclical rules: King

Mervyn King, the governor of the Bank of England, indicated on Monday that Britain could push ahead in implementing its own counter-cyclical capital requirements to prevent another subprime debacle.

King told British lawmakers that counter-cyclical capital requirements would, along with more stringent liquidity rules and capital buffers, be essential in preventing future financial crises. The governor noted that the global nature of the banking system necessitated an international approach to