Former Bank of England (BoE) governor Lord Mervyn King has
questioned the need for internationally-derived bank
regulation, arguing that the scale and complexity of the task
mean that national authorities are set to drive the world of
regulation from now on.
"We don’t need international frameworks,
countries can set their own," he told delegates at The
Clearing House annual conference in New York City, on
Tuesday 29 November.
"If you start with the desirability of an
internationally-agreed framework it sounds like a jolly good
thing, but is it?," he added, speaking of post-crisis bank
King also addressed the June 23 Brexit referendum in the UK,
expressing confidence that the country will exit the EU despite
recent legal wrangling – and thereafter do well
One of the world’s key policymakers in place
during the crisis of 2008, he’s spent his time
since leaving the BoE engaged in a deep...