Bank’s Bailey sees positive future for building societies

Andrew Bailey

Andrew Bailey, the director of UK banks and building societies at the Financial Services Authority (FSA), said on Thursday "competition in banking needs careful assessment to understand the nuances".

Starting first with an explanation of how his job has changed during the transition to the Prudential Regulation Authority, a link between the FSA and the Bank of England, he went on to lament the development of competition in the UK.

"I am in favour of promoting competition in the banking industry

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