Bank facing Treasury grilling over Northern Rock

Bank facing Treasury grilling over Northern Rock

Treasure committee MPs to grill Bank of England governor

A supposed rift between the FSA and the
Bank of England over the bail-out
of Northern Rock will be the basis of a grilling Mervyn King is likely to be
subjected to by Treasury committee MPs today.

According to
reports,
MPs will demand that King and other members of the BoE’s monetary
policy committee (MPC) throw light on suggestions that the regulator repeatedly
urged the Bank to intervene earlier in the crisis at the mortgage lender.

The grilling is expected as MPC members come before the Treasury committee to
discuss this week’s inflation report and follows reports that the FSA pressed
King to widen the types of collateral the BoE would accept when lending to
financial institutions.

Further reading:

Northern Rock under fire over exec pay rises

FSA: Northern Rock ‘solvent’

Share

Subscribe to get your daily business insights

Resources & Whitepapers

Why Professional Services Firms Should Ditch Folders and Embrace Metadata
Professional Services

Why Professional Services Firms Should Ditch Folders and Embrace Metadata

3y

Why Professional Services Firms Should Ditch Folde...

In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...

View resource
2 Vital keys to Remaining Competitive for Professional Services Firms

2 Vital keys to Remaining Competitive for Professional Services Firms

3y

2 Vital keys to Remaining Competitive for Professi...

In recent months, professional services firms are facing more pressure than ever to deliver value to clients. Often, clients look at the firms own inf...

View resource
Turn Accounts Payable into a value-engine
Accounting Firms

Turn Accounts Payable into a value-engine

3y

Turn Accounts Payable into a value-engine

In a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...

View resource
Digital Links: A guide to MTD in 2021
Making Tax Digital

Digital Links: A guide to MTD in 2021

3y

Digital Links: A guide to MTD in 2021

The first phase of Making Tax Digital (MTD) saw the requirement for the digital submission of the VAT Return using compliant software. That’s now behi...

View resource