Comment: The Old Lady prevails

Deloitte, the liquidators of the Bank of Credit and Commerce International (BCCI), yesterday unconditionally withdrew all allegations of malfeasance on the part of the Bank of England and 22 of its present and former staff members related to the BCCI's collapse in 1991.


Central bankers around the world will welcome this news and join the BoE's governor, Mervyn King, in wondering "how and why such a very weak case took 12 years to come to an end".

Deloitte had previously

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