Board overseeing BOE failed in its duty during 2007 crisis
It didn't help set strategic direction to deal with Britain's first bank run in 100 years, minutes of meetings show
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London
OFFICIALS charged with overseeing the Bank of England failed to hold the central bank to account during the 2007-09 financial crisis and may have made matters worse, a senior British lawmaker said on Wednesday.
The central bank published nearly 500 pages of minutes of meetings of its Court, a body which was meant to help set strategic direction and act as a check on its governor, who at the time of the crisis was Mervyn King.
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