Jun
21
BOE to Get $1.6 Billion as Mark Carney Beefs Up Bank’s Crisis Powers
By-
Governor says BOE needs to adapt to changes in global economy
- New framework will allow central bank to take on greater risk
Mark Carney said the Bank of England needs to adapt to the unprecedented changes in the global economy and the financial system as he unveiled another overhaul of the institution’s powers.
Under a new framework outlined Thursday, the U.K. Treasury will pump 1.2 billion pounds ($1.6 billion) of capital into the BOE, which in turn will have the ability to take on greater risk if it needs to act to keep the banking system — and the economy — on an even keel…
BOE to Get $1.6 Billion as Mark Carney Beefs Up Bank’s Crisis Powers
