Member

It would be quite different to say that something akin to the PRA’s and FCA’s secondary growth and competitiveness objective should apply to the Bank of England when taking urgent crisis management action in relation to an individual distressed or failing firm using this specific mechanism. That reflects the different nature of the decisions that the regulators take in the context of their general rule-making and policy-making roles compared with the resolution authority, which has to act quickly and decisively in a crisis, with limited information.