‘A long view on the task ahead’ - Deputy Governor Sharon Donnery 03 October  2019  Speech  It is a pleasure to be here this evening (and special thanks to Des for the invitation).1 I especially welcome the opportunity to take a longer perspective on things – beyond the end of this month at least!
Legislation and regulation of banks, in turn, generally should not aim to curtail the predilection of businesses and their banks to take on risk -- so long as the general safety and soundness of our banking system is maintained. As I have said many times, regulators and legislators should not act as if the optimal degree of bank failure were zero.