Andrew Bailey, deputy governor of the Bank of England and head of the UK's Prudential Regulation Authority, has warned of a growing "Balkanisation" of international finance, which could limit the scope of banks to "incorporated entities in single countries".
"Cross-border international banking, particularly in wholesale banking, is a key ingredient for the world economy to continue to grow," said Bailey in a foreword for the Directory of Financial Regulators 2014, a ‘who's who' guide of financia
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