Bank told to explain powers

first_img Share Bank told to explain powers Monday 30 August 2010 8:57 pm whatsapp Show Comments ▼ Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family Proof KCS-content center_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeNoteabley25 Funny Notes Written By StrangersNoteableyTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was The Dream Girl In The 90s, This Is Her NowMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comDrivepedia20 Of The Most Underrated Vintage CarsDrivepediaElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To whatsapp THE Bank of England (BoE) needs to spell out to consumers what its powers to curb lending will mean for products such as mortgages, the British Bankers’ Association said yesterday.When it inherits the remit of City regulation from the Financial Services Authority in two years’ time, the BoE will be tasked with macroprudential oversight of the banking system. Deputy governor Charlie Bean said for the first time over the weekend this could include putting “direct constraints” on individuals’ access to credit at the top of the cycle to preserve the health of banks.The BoE could cap mortgage loan-to-value ratios and demand deposits of up to 25 per cent, Bean said in a speech to American financiers. The limits would be designed to prevent a repeat of the credit crisis, which saw some borrowers granted as much as 125 per cent of their property’s value, leaving them stuck in negative equity when prices tanked.Bean said: “There is the option of introducing direct constraints on the terms or availability of credit… The best approach seems likely to involve a portfolio of instruments.”British Bankers’ Association chief executive Angela Knight welcomed Bean’s suggestions. “What needs to take place now is a proper discussion explaining why at certain times individuals will be restricted in how much they can borrow. The reason these things needs to be discussed is they impact society – rather than just banks – and society needs to understand.” Tags: NULLlast_img

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