Ex-UK chancellor calls for disbandment of Bank's Court

Former chancellor of the exchequer Alistair Darling

Alistair Darling, the UK's former chancellor of the exchequer, on Tuesday (October 11) heavily criticised the Bank of England's new governance structure and called for the disbandment of the Bank's Court.

At a Treasury Select Committee hearing in London, Darling said that while he agreed with the creation of the Financial Policy Committee (FPC), its governance framework was "not right", and that the role of the Bank's Court was not clear. Darling described the idea of the Court setting the Bank'

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