Comment: The Old Lady stands her ground

The Bank of England's decision to turn down a settlement offer from the Bank of Credit & Commerce International's (BCCI) liquidator, Deloitte, in the ongoing litigation case related to the BCCI's collapse in 1991, shows how tough the Bank can be when circumstances demand.

COMMENT BY CENTRALBANKNET

Deloitte claims that the Bank abused its powers of supervision over BCCI, knowing that this would harm BCCI depositors. This very strong (the Bank has called it "outrageous") claim is made because they

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