Macroprudential supervision for BoE - lawmakers
The Bank of England should be given responsibility for macroprudential supervision, recommends a report from Britain's House of Lords Economic Affairs Committee.
The report says that the country's supervisory and regulatory system failed to prevent the crisis and mitigate its effect. The report adds that the current arrangements failed to recognise the natural affinity between responsibility for financial stability and for macroprudential supervision of the banking and shadow banking sectors.
The
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