BoE’s Jenkins attacks banking sector myths
The trade-off between a stronger, safer, banking system and one that can compete internationally is a myth, according to Robert Jenkins, a member of the Bank of England's Financial Policy Committee. Moreover, nullifying this myth, and others, will lead to better regulation.
Speaking at an International Centre for Financial Regulation summit in London, on September 25, Jenkins said the pursuit by bankers of return on equity (RoE) – a measure of profitability that does not account for long-term
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