Bank of England governor says there could be lessons to be learned regarding rules around acquisitions
The Bank of England will examine tightening banking regulations after the winding down of debt-laden Wyelands Bank,a lender majority-owned by troubled Liberty Steel boss Sanjeev Gupta.
Appearing before MPs on the Treasury select committee on Monday, Bank of England governor Andrew Bailey said there could be lessons to be learned after Gupta took control of Wyelands. The bank subsequently made a series of loans to a network of companies controlled by his associates.
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Source: theguardian.com