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Bank of England’s Haldane endorses concerns on bogus bank accounting

The Bank of England’s Executive Director Financial Stability, Andy Haldane, has set out the case for banks to be held to different accounting standards because the existing rules have may allowed banks to overstate their profits and exacerbate their losses. This is something I covered in a private members’ bill last year, with particular reference to derivatives. As reported in the Guardian: Accounting rules for banks have bent with the financial stability wind in ways which have amplified investor and […]

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