As a consequence of these developments, borrowers and lenders are increasingly able to transact directly with each other, and we  1  BIS Review 26/2000  have seen a proliferation of specialized lenders and new financial products that are tailored to meet very specific market needs.
In terms of proposed legislation, the Bank will house the Prudential Authority, which would supervise the safety and soundness of banks, insurance companies and other financial institutions, while the market conduct authority would supervise the way in which financial services firms conduct themselves and treat their customers.