The Bank of England governing board’s refusal to disclose its discussions during the financial crisis was “unsatisfactory” and prevented Parliament from holding the bank to account, Treasury Committee Chairman Andrew Tyrie said.
Barclays Plc was fined 26 million pounds ($44 million) by Britain’s markets regulator after a trader was found to have manipulated the price of gold in 2012, dealing a blow to Antony Jenkins’s attempts to rehabilitate the lender’s reputation.
U.K. finance minister George Osborne and Bank of England Governor Mervyn King will face scrutiny from Parliament’s Treasury Committee led by Conservative lawmaker Andrew Tyrie , who beat rival Michael Fallon to become chairman.
U.K. Chancellor of the Exchequer George Osborne should be clearer about what he expects the Bank of England’s Financial Policy Committee to do to address potential risks in the housing market, lawmakers said.
The U.K. government risks making a “botched job” of banking reform by trying to speed up passage of a bill setting new standards for the industry, said Andrew Tyrie, the chairman of Parliament’s Treasury Committee.