BOE deputy governor sees barriers to global regulatory cooperation

London

BARRIERS to cooperation between different countries' financial regulators remain high, despite the shared nature of risks from rapid lending growth, Bank of England (BOE) deputy governor Minouche Shafik said on Monday.

Ms Shafik, who is responsible for financial markets at the British central bank, said that even if regulators could control the lending by domestic banks, foreign lending still had a major influence on the risk of financial crises.