The head of the Bank of England’s arm that deals with distressed banks has visited Birmingham to talk to the local financial and professional services community.
Andrew Bailey, who is head of the Bank of England’s Special Resolution Unit as well as being executive director for banking services and chief cashier, attended a lunch with the local financial services community followed by a meeting organised by Birmingham Forward.
Mr Bailey - whose signature appears on current bank-notes - has been responsible for the Bank’s role in resolving problems in the banking sector since the onset of the financial crisis in August 2007.
The Special Resolution Unit’s first official case was the Dunfermline Building Society.
Mr Bailey - whose family is from Birmingham and who described himself as “at least a third-generation Albion fan” - said the Bank of England regularly monitored what was happening in the regional economies.
He said: “From the point of view of understanding our role in respect of financial stability, it is important that we understand the impact of the crisis throughout the country and on financial institutions throughout the country.”
