Structure of banks must change as they grow, says BoE’s Haldane
Andrew Haldane, executive director for financial stability at the Bank of England, on October 25 said the physiology of banks needs to adapt to the rapid financial 'deepening' that has occurred since 1970.
Speaking at Institute of Economic Affairs, Haldane said it is the structure of banks that causes the ‘too-big-to-fail' problem, and as banks continue to grow and the finanical system becomes more concentrated, the problem becomes harder to solve.
Haldane praised existing reforms, but said more
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