BoE’s Bailey considers how to foster competition
PRA has ‘substantial pipeline’ of potential new banks
Taking a "differentiated approach" to the regulation of small firms could help foster competition in the banking industry, an "important issue" if the UK is to have growing challenger banks, Bank of England deputy governor Andrew Bailey said on October 22.
Bailey said the Prudential Regulation Authority (PRA), which he leads as chief executive officer, considers competition where it can, and has authorised 10 banks in the last two years. "Currently we have a substantial pipeline of interested
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