Bank of England Deputy Governor Andrew Bailey said weak growth in credit partly reflects a need to deal with existing debt and doesn’t necessarily indicate a failure of central bank policy.
Bank of England Chief Cashier Andrew Bailey said the finance industry can’t be allowed to dilute the new Basel III regulations requiring banks to build up capital buffers.
Andrew Bailey will become deputy governor for prudential regulation at the Bank of England as the central bank prepares for its new role as Britain’s financial regulator.
"It dismays me to see a debate which is at times so divorced from the heart of the matter, which is setting appropriate incentives by putting a meaningful amount of pay at risk."
- Andrew Bailey on Oct 17, 2014