FSA chairman says regulation may be holding the economy back
The chairman of the Financial Services Authority has admitted that regulation may be holding the economy back.
In a speech at the European conference on banking and the economy at Southampton University, Lord Adair Turner said ensuring greater financial stability may require policy makers to make judgements about the right level of credit in the economy, and about the relative value of different categories of credit created by the banking system.
But he said the biggest problem for regulators was the fine line between restraining and stimulating the economy.
Lord Turner said: “The answer [on the impact
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