BoE Carney Troubled by RBS Lending Practices Allegations

Bank of England governor Mark Carney says the latest allegations against Royal Bank of Scotland are deeply worrying, and should be pursued fully by independent authorities.

Asked by the Treasury committee for his views on yesterday’s report from Lawrence Tomlinson, which suggested that RBS had deliberately driven healthy firms to the wall, Carney replied:

We take the view that the behaviours documented in the report [and in a separate report from Sir Andrew Large] are deeply troubling and extremely serious.

It is the direct responsibility of the FCA to investigate, Carney continued, saying that RBS can’t be left to simply look into it themselves.

Authorities need to be involved, he added.

via theguardian.com

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza