BoE’s Bailey opposes Treasury plan to overrule financial regulators – Sky News

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FILE PHOTO: Governor of the Bank of England Andrew Bailey addresses the media on the Monetary Policy Report, in London

(Reuters) – Andrew Bailey, the governor of the Bank of England, opposes plans drawn up by Britain’s Treasury to overrule financial regulators, Sky News reported on Saturday.

Bailey has expressed disquiet about a so-called ‘call-in power’ which will be included in the Financial Services and Markets Bill, which is due to be introduced this year, the report said.

(Reporting by Maria Ponnezhath in Bengaluru; Editing by Gareth Jones)