In a recent hearing before the UK House of Lords Financial Services Regulation Committee, Sam Woods, Deputy Governor for Prudential Regulation at the Bank of England, announced plans to ease the regulatory burden on firms, as reported by the Financial Times.
Woods, who also serves as the CEO of the Prudential Regulation Authority (PRA), emphasized that financial stability and economic growth "go hand in hand." As such, the BOE and the PRA are analyzing where they can soften requirements for banks and insurers to support economic growth without sacrificing financial stability.
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