BoE’s Bailey says stronger internal governance needed

Andrew Bailey

The Bank of England (BoE) needs stronger internal governance and "substantial changes" in its organisation, according to Andrew Bailey, an executive director at the central bank.

The central bank's court must be effective in holding people to account and then itself be accountable to parliament, he said, while giving evidence to the UK Parliamentary Commission on Banking Standards yesterday (November 19), alongside Adair Turner, chairman of the UK's Financial Services Authority.

In a financial

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