Carney tells parliament BIS report was 'made in a vacuum'; Kohn defends leverage ratio plans

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Donald Kohn led the defence of the Bank of England's (BoE) proposal for a time-varying leverage ratio at a hearing with the UK parliament's Treasury Select Committee today, while Mark Carney and Andrew Bailey told parliamentarians the BIS's "interesting" warnings over loose monetary policy disregarded political realities of central bank mandates.

The Financial Policy Committee (FPC) last week released a consultation paper outlining "the merits of being able to vary the leverage ratio in a

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