Adair Turner, the chairman of the UK's Financial Services Authority (FSA), pushed on Wednesday for the creation of a new macroprudential committee to take over the task of preventing systemic risk build-up.
Speaking at the sidelines of the World Economic Forum in Davos, Switzerland, he told the BBC, a broadcaster, that his proposed macroprudential committee would be wedged in between the FSA and the Bank, and utilise the resources of both.
The role of macroprudential regulator is one the Bank of
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