‘Bank of England Deputy Governor Andrew Bailey said banks’ misconduct risks undermining the entire financial system following increasingly large fines.
Misbehavior has “broader consequences,” Bailey, who leads the central bank’s Prudential Regulation Authority, said in an interview in London today. “The risk of loss of confidence in the integrity of financial markets is very, very big. This threatens a vital underpinning of the system.”’
Read more: Misbehaving Bankers Threaten System, Bank Of England’s Bailey Says