In Brief: In Barings' Wake, Bank Of England to Beef Up

The Bank of England said it would respond to the collapse of Barings PLC by spending up to 25% more to monitor the banking industry and hiring as many as 20% more supervisors.

The central bank said a nine-month review triggered by the 1995 trading debacle found that it needs more people and more sophisticated technology to monitor risk-taking.

"We do not see a case for radical change in the way we carry out banking supervision in the U.K.," Deputy Governor Howard Davies said. "On the other hand, we do conclude that there is a need to significantly strengthen the function."

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