Bank of England's Bailey Advocates for Cautious Approach and Enhanced Surveillance at Bloomberg Global Regulatory Forum

Bank of England Governor Andrew Bailey emphasized the necessity for improved surveillance tools to monitor non-bank financial institutions during his speech at the Bloomberg Global Regulatory Forum. He stated that a cautious and gradual approach is warranted in response to current economic conditions. Bailey also highlighted the importance of adopting a more systematic method for providing crisis liquidity, asserting that regulators should never have been complacent regarding financial stability risks. The Bank of England is actively seeking better strategies to oversee the increasing risks associated with non-bank financial entities.