p.60 biz
The Bank of England, Threadneedle Street, London.
Lucy Ray
12 June 2013
Senior Bank of England official Andy Haldane today admitted that Threadneedle Street mishandled its instructions for banks to raise £25 billion in extra capital.
In written evidence submitted to the Treasury Select Committee, Haldane said that the Financial Policy Committee regulator’s 2011 recommendations that banks act to boost their capital buffers “lacked clarity and decisiveness” and failed to “explain the significance of this package”.
In March, the FPC’s instructions were laid out to enable banks to withstand future potential shocks and bad loan writedowns.
