Summary
WHY does the Bank of England have two Deputy Governors? If you answered: In case one is run over by a falling bank, you'd be wrong.
For its first 300 years it managed with just one, but back in 1997, when things could only get better, the Treasury was drafting the Bank's new Act of Parliament and wrote in two of them, one to look after monetary policy, and the other to look after banking supervision.See the full content of this document
Extract
Wanted: A Tough No 2 to Drive Bank Policy
The new Chancellor, to clip the Bank's wings after giving it the task of setting interest rates, took supervision away, but nobody ...
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