Bank concerned on clarity of stability role

The Bank of England on Monday called for more clarity on and greater powers to fulfil its financial stability mandate.

The British legislature in February granted the Bank statutory responsibility for financial stability as part of the Banking Act. The act legislates for the creation of a financial stability committee and a special resolution regime to handle bank failures.

But both Mervyn King, the governor of the Bank, and Sir John Parker, the chairman of the committee of the Bank's non-exe

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