Mark Carney
Media playback is unsupported on your device
Video

Mark Carney welcomes 'too big to fail' bank reform plan

New global rules to prevent banks that are "too big to fail" from being bailed out by taxpayers have been welcomed by the Governor of the Bank of England.

The rules, created by the Financial Stability Board (FSB), a global regulator, will require big banks to hold much more money against losses.

Mark Carney told the BBC's Kamal Ahmed that the current system, which saw taxpayers bail out banks after the financial crisis of 2008 and 2009, had been "totally unfair".

Go to next video: UK banks to face competition inquiry