Bank’s Bailey stresses importance of forward-looking approach to regulation
Andrew Bailey, the executive director of banking services and chief cashier at the Bank of England, on Thursday said regulation would need to be more forward-looking to prevent the occurrence of bank runs.
At the Manchester Business and Professional Services Conference, Bailey said: "Very few banks fail because they are insolvent today. They don't get that far. Typically, they fail because of a rising probability that they are expected to be insolvent at some point in the future. This is
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