FSA chief expected to announce new prudential oversight body

Daily news headlines

LONDON - In his widely anticipated review of banking regulation, to be published on March 18, Lord Adair Turner of Ecchinswell, chairman of the Financial Services Authority, is expected to propose a new macro-prudential role that will provide oversight of the entire British banking system. Under the proposal, regulators will be able to impose stricter rules on bank lending and balance sheets if financial stability is found to be at risk.

The move is an attempt to fix the much-criticised tri-partite system of regulation in the UK between the FSA, the Bank of England and the Treasury. Any new rules would be set by the Treasury in its role as de facto head of the tri-partite system, but its decisions would be informed by the Bank of England, which will remain responsible for financial stability. The FSA would implement the rules on a bank-by-bank basis.

  • LinkedIn  
  • Save this article
  • Print this page  

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: