Central banks in the dock: lessons from BCCI

As the Bank of England begins its marathon court case over its handling of the failure of BCCI, CentralBankNet spoke to Charles Proctor about the lessons for other regulators.

Thirteen years after closing the Bank of Credit and Commerce International (BCCI) following massive fraud at the bank, the Bank of England, then the UK's banking regulator, is finally undergoing its day in court. The Bank is facing claims its failure to satisfactorily fulfil its duties as a regulator lead to substantial

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