Summary
MERVYN King left banks in no doubt that they'll have to dig deep if there is a repeat of the Northern Rock debacle.
The Bank of England governor said the industry will have to fund a planned scheme to guarantee savers' cash in the event of another bank going belly up.See the full content of this document
Extract
Banks May Have to Dig Deep Says King
'Some element of pre-funding is natural, and is used in many countries&with banking syste...
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