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Tag Archives: Vickers

Nonsense on bank pay

Antony Jenkins, who replaced Bob Diamond as chief executive of Barclays Bank during the Libor scandal, says that Barclays should be seen as a bank that is “doing well financially and behaving well”. Now Sir David Walker, the urbane chairman (and G30 alumni) and Jenkins hope that by revealing the numbers earning more than £1…
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The governor stakes revisited

  I have mentioned the familiar names – Tucker, Vickers, Turner, Burns. Of these Paul Tucker has the deepest grasp of the issues the new governor will confront, and he is getting encouragingly more radical on bank reform – like everybody else. Even Lord Turner has been asking questions about the whole viability of fractional…
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Is it to be a Burns-Vickers double-act?

Recent suggestions that Lord (Terry) Burns may be appointed chairman of a revitalised Court (Board of Directors) with greater powers of surveillance than the present Court make a lot of sense. That means the choice of governor, who will serve one term of eight years, may be between Paul Tucker, deputy governor, and Sir John…
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New entry to Bank of England governor stakes

  My apologies to subscribers who – following my tip – have placed bets on Gus O’Donnell to be next Bank of England Governor (RP’s Diary 14/09/12). They might lose their money. How did I come to overlook the irresistible charms of (Lord) Terry Burns? Terry is a pukka economist who followed a respectable academic…
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Tectonic plates shift

There is a short and a long-term way to view the debate on structural reforms in banking. Short term, the question is, will the EU’s Liikanen knock out the UK’s Vickers? Or will Vickers prevail? The recommendations are mirror images of each other, one ring-fencing so-called retail banking the other ring-fencing the investment banking bit….
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Is global financial reform possible?

Paul Volcker, one of the few universally-esteemed central bankers of the 20th century, has summed up in a few words the messages of The Money Trap. Maybe I should have saved myself the trouble of writing the 340 page book. At least, that was my immediate thought on reading his article. A colleague called to…
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