CHANCELLOR Alistair Darling today unveiled proposals for a reform of banking regulations in a bid to avert another Northern Rock-style crisis.The plans could see new powers given to the Treasury, Financial Services Authority and Bank of England to take control of a failing bank.
CHANCELLOR Alistair Darling today unveiled proposals for a reform of banking regulations in a bid to avert another Northern Rock-style crisis.
The plans could see new powers given to the "tripartite authorities" - the Treasury, Financial Services Authority and Bank of England - to take control of a failing bank.
The current scheme designed to safeguard savings also faces overhaul in an attempt to prevent a repeat of last year's devastating run on Newcastle-based Northern Rock.
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