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(Global) Banking Crisis

Lord Adair Turner, Chairman of the Financial Services Authority discussed his report, The Turner Review - A Regulatory Response to the Global Banking Crisis (published 18 March 2009), which takes an in-depth look at the causes of the financial crisis, and recommends steps that the international community needs to take to enhance regulatory standards, supervisory approaches and international cooperation and coordination. The Review focuses on long-term solutions rather than the short-term challenges and distinguishes areas where the FSA has already taken action; those where the UK can proceed nationally; and those where we need to achieve international agreement. It also discusses wider issues raised by the crisis that merit further consideration.