Darling's Plan to Make Bank of England More Transparent; ECONOMY

The Birmingham Post (England), June 19, 2008 | Go to article overview

Darling's Plan to Make Bank of England More Transparent; ECONOMY


Byline: By Nevill Boyd Maunsell Economics Editor

The top jobs at the Bank of England are to be advertised in future as well as vacancies for outsiders on the Bank's interest-setting monetary policy committee.

Chancellor Alistair Darling announced the new system "to inject more openness and transparency to the process" as part of a radical shake-up at the Bank, along with new powers for the Financial Services Authority, in his annual speech at the Mansion House in the City of London last night.

It will be some time before the new job ads appear. The Bank's governor, Mervyn King has just been reappointed for a second five-year term.

Mr Darling said that he will name the new deputy governor to succeed Dame Rachel Lomax this morn-ing At present there are no vacancies on the ninemember MPC.

The Chancellor also confirmed a plan to give the Bank a new "Financial Stability Committee" to run parallel to the MPC, charged with preserving the stability of Britain's financial system. He promised details and a consultation document today.

The new committee, he said, "will bring valuable, external expertise with City experience to bear on the Bank's decision-making".

A slimmed down Bank of England board, or "Court", will oversee the functions of both committees.

The FSA, Mr Darling added, will remain the sole banking supervisor, rejecting suggestions that it should share this role with the Bank in the light of its failure over Northern Rock.

Instead the Government will bring forward new legislation to giver the FSA new powers.

"No system of regulation, of course, can or should prevent the failure of each and every institution, "the Chancellor said., "But we must do everything possible to prevent problems which could pose a wider threat to stability. …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Note: primary sources have slightly different requirements for citation. Please see these guidelines for more information.

Cited article

Darling's Plan to Make Bank of England More Transparent; ECONOMY
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen
Items saved from this article
  • Highlights & Notes
  • Citations
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Search by... Author
    Show... All Results Primary Sources Peer-reviewed

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.