Mervyn King
Mervyn King and Northern Rock
The question of Mervyn King's reappointment as governor of the Bank of England has become inextricably linked to the saga of Northern Rock, says Robert Pringle, the editor of Central Banking journal.
We're half-way to normal, says UK's King
Presenting the Bank of England's Inflation Report for November, Mervyn King, the governor of the Bank, said that key indicators of stress in financial markets had recovered partly from the levels reached in August and September but that the situation was…
City wants to keep King
City of London bankers and economists have said they want Mervyn King, the beleaguered governor of the Bank of England, to serve a second term.
UK will come out of this stronger: King
Britain will have the best regulatory regime in the world by mid-2008 as a result of the Northern Rock crisis, according to Mervyn King, the governor of the Bank of England.
Old Lady could get more privacy under new rules
The Bank of England could soon be able to rescue troubled lenders in secret as a result of the recent Northern Rock crisis.
UK funds unlikely to have helped in crisis
Alistair Darling, the UK chancellor of the exchequer, implied on Thursday that injecting funds into the money markets would have done little to lessen the impact of the subprime crisis in the UK.
Former financial stability adviser returns to Bank
Alastair Clark, a former executive director at the Bank of England, is to rejoin the Bank to advise Mervyn King, the governor, on financial stability.
King names lessons learned from crisis
Mervyn King, the governor of the Bank of England, said on Tuesday he had identified three lessons, so far, from the banking crisis.
King speaks on Northern Rock
Three weeks ago, thousands of depositors queued on the streets outside branches of Northern Rock to take their money out. Those scenes, broadcast around the world, were shocking. How did they come about and how can we prevent them in future? My focus…
FSA chief admits failings over Northern Rock
Hector Sants, the chief executive of the Financial Services Authority (FSA) said on Tuesday that it had failed to anticipate the impact of the credit crunch on Northern Rock, a UK mortgage lender.
Bernanke schedule reveals markets' influence
Details of the diary of Ben Bernanke, the chairman of the Federal Reserve, show the extent to which Wall Street executives, along with money managers and cabinet officials, played a role in his policy about-turn on 17 August.
Why King lacks allies
Just when Mervyn King, the governor of the Bank of England, was hoping for a respite from the battering he has received from the Treasury Select Committee and others over his handling of the Northern Rock debacle, along comes a heavyweight in the shape…
UK business chief singles out King
Richard Lambert, a former member of the monetary policy committee who now heads the Confederation of British Industry (CBI), dismissed Mervyn King's blaming of the Northern Rock crisis on regulatory complexity as unsatisfactory.
Politicians want more power to veto Bank
An enquiry into the crisis at Northern Rock by Treasury ministers is expected to result in calls for their colleague, the chancellor of the exchequer, to be able to overrule the Bank of England and the Financial Services Authority (FSA).
UK head regulator: borrowing rules should change
Sir Callum McCarthy, the chairman of the Financial Services Authority (FSA) - the UK's financial watchdog, has said the authorities should alter banking regulation in light of the problems faced by Northern Rock.
Mini-crises stretch ahead: UK economist
Instead of a sharp but swift adjustment, the prospect now is for a series of mini-crises stretching for years ahead, says the City economist Stephen Lewis in his commentary on the latest developments in the UK banking crisis.
King's paper on current turmoil
The governor of the Bank of England, Mervyn King, presented a 10-page paper on the recent market turmoil and the Bank's response, to the British parliament's Treasury Committee prior to his testimony on 20 September.
Embattled King blames legislation for reticence
Mervyn King, the governor of the Bank of England, says the central bank is "hemmed in" by legislation, which "made it almost impossible for us to act as a lender of last resort in the way that I would prefer."
Bank of England moves to aid mortgage lender
The Bank of England said on Friday that it would provide a liquidity support facility for Northern Rock, a UK mortgage lender.
King and Reddy to speak on India
Mervyn King, the governor of the Bank of England, and Y.V. Reddy, the governor of the Reserve Bank of India, will discuss the future of the Indian economy in an event at the London School of Economics on 15 October.
Bank of England injects £4.4 billion extra
The Bank of England loaned £4.4 billion ($8.9 billion) more than the forecast reserves target on Thursday after promising to do so last week if overnight lending rates remained high.
King refuses to aid markets
Mervyn King, the governor of the Bank of England, said on Wednesday that he believed providing additional liquidity against a wider range of collateral and over longer periods "sows the seeds of a future financial crisis".
BoE inflation report suggests rate hike
The Bank of England looks set to raise rates to 6%, after its August inflation report, released on 8 August, indicated that further hikes were needed to bring inflation down towards the 2% target.