April 9, 2013 / 8:21 PM / 5 years ago

BoE's Haldane calls for simpler bank rules that are harder to game

WASHINGTON, April 9 (Reuters) - Bank regulators need to develop much simpler rules to make it harder for large financial firms to game the supervisory system, Bank of England official Andrew Haldane said on Tuesday.

“We need to do a radical pruning, simplifying of our regulatory apparatus (that) places much less emphasis on what are unreliable measures of risk,” Haldane, the BoE’s executive director for financial stability, told a conference sponsored by the Federal Reserve Bank of Atlanta.

He said current international capital rules place undue burdens on small firms and may exacerbate the problem of banks that are seen as “too big to fail” over time.

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