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Wednesday, April 7, 2010 as of 11:14 AM ET

Bank of England

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The Bank of England (formally the Governor and Company of the Bank of England) is the central bank of the United Kingdom and the model on which most modern central banks have been based.

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BOE Clark: Regulators Will Need Political Support For Tough Decisions

It will be critical that regulators charged with ensuring the stability of the financial system get political support whenever they make unpopular decisions, Bank of England policy maker Alastair Clark said Thursday.

Clark, a member of the central bank's Financial Policy Committee, told the Society of Business Economists that it is desirable for regulators to act pre-emptively to head off potential problems, even if doing so draws public ire."In order to move more towards the pre-emptive end of the spectrum I think it is rather critical that there is political coverage for that position," Clark said. He added if regulators wait until problems have fully materialized then their actions may be ineffective.The FPC is a new body tasked with monitoring and tackling risks to the financial system as a whole.jason.douglas@dowjones.comCopyright © 2012 Dow Jones Newswires...

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  1. BOE's Clark: Regulators May Have Moved Too Fast On Bank Rules

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    U.K. banks are strong enough to withstand a Greek exit from the euro zone, a Bank of England policy maker was quoted as saying Monday.Michael Cohrs, a member of the ...

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