King: change needed in bank regulation

Much thought will need to be given to the structure and nature of banking regulation in the future given the recent challenges presented by the financial turmoil, admitted Mervyn King, the governor of the Bank of England. "Serious thinking and willingness to contemplate radical change will be necessary," said the governor to the audience at the Bank of Israel on 31 March.

"It seems extremely likely that banks and 'near' banks, especially those who have been regarded as similar to banks in terms

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