The Bank of England Governor Andrew Bailey was out with his remarks on the Financial Stability report released this Tuesday.
Key Quotes:
- The FPC will remain committed to the implementation of robust prudential standards in the UK.
- Will require maintaining a level of resilience that is at least as great as that currently planned, which itself exceeds that required by international standards.
- UK’s reputation for strong standards, independent regulation and financial stability has been and will remain a crucial component of its attractiveness to internationally active financial institutions.
- New and deeper financial services relationships will be characterised by the concept of safe openness.
