BoE’s Bailey: FPC will remain committed to the implementation of robust prudential standards in the UK

The Bank of England Governor Andrew Bailey was out with his remarks on the Financial Stability report released this Tuesday.

Key Quotes:

• The FPC will remain committed to the implementation of robust prudential standards in the UK.
• Will require maintaining a level of resilience that is at least as great as that currently planned, which itself exceeds that required by international standards.
• UK’s reputation for strong standards, independent regulation and financial stability has been and will remain a crucial component of its attractiveness to internationally active financial institutions.
• New and deeper financial services relationships will be characterised by the concept of safe openness.