The Bank of England faced another bruising on Tuesday morning over the Treasury Select Committee’s claim that it lacks proper accountability.
The Treasury committee’s case for a supervisory board to replace the Bank’s Court is strong.
But it is ironic that the Bank is coming in for so much flack for its poor corporate governance given that Threadneedle Street spearheaded much of the improvements that have taken place in private companies in recent decades. Read more
Hello and welcome to today’s live blog on the Treasury Select Committee’s hearing for the Bank of England’s Financial Stability Report.
The governor will be giving evidence, as will executive director for financial stability Andy Haldane, and external Financial Policy Committee members Michael Cohrs and Robert Jenkins.
This post should update automatically every few minutes, although it may take longer on a mobile device. All times are London time.
13.18 The live blog is now closed.
13.17 Here are the key takeaways from today’s hearing:
- The Bank is clearly nonplussed with the Treasury Committee’s call for a strong supervisory board. Sir Mervyn