PRA’s discretionary regulatory powers criticised

Author: | Published: 7 Nov 2011
Sir Mervyn King’s calls for the Bank of England to be given discretion to force banks to restructure or cut borrowing has been met with hostility by some lawyers.

Sir Mervyn last week called for the proposed Prudential Regulatory Authority (PRA) to "be able to say to a bank that your leverage has gone from 20 to 1 to 40 to...