Bank of England says to look closer at costs of financial regulation

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The Bank of England said on Tuesday that it would look more closely later this year about the cumulative economic cost of financial regulation brought in since the financial crisis. The BoE was responding to changes in the remit of its Financial Policy Committee proposed by finance minister George Osborne in his July budget statement. "The Committee will ... assess the cumulative effects of reforms to make the financial system more resilient and consider whether in aggregate they have unintended undesirable effects," the BoE said. "Where appropriate, the Committee will consider whether the improvements in resilience from those reforms could be achieved in ways that are further supportive of strong, sustained and balanced growth," the BoE added.

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