Hector Sants unveils banking regulations

Financial Services Authority (FSA) chief executive Hector Sants has unveiled the new system for monitoring the risks taken by banks.

He focused on the philosophy and functions of the Prudential Regulatory Authority, the body being created to supervise banks from 2013 onwards.

He told a conference: "The new supervisory approach will build on the more intensive approach adopted by the FSA since the crisis''.

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