LONDON, March 21 Bank of England Governor Mark
Carney said on Tuesday he fully understood concerns about the
BoE's standards of accountability, after deputy governor
Charlotte Hogg resigned for failing to disclose a potential
conflict of interest.
Hogg, one of Governor Mark Carney's most trusted
lieutenants, stepped down last week following criticism by
lawmakers who said the episode raised "wider concerns" about
accountability at the British central bank.
Speaking in London on ethics and banking, Carney said the
BoE would learn lessons from the "unfortunate events".
"For those who have questioned whether we 'get it', we do.
We know this honest mistake was also a serious mistake – one
that was compounded by the fact that Charlotte Hogg had overseen
the development of our new Code (of conduct)."
Carney said he fully respected the judgment of lawmakers who
said Hogg was no longer suitable for the role of deputy governor
for markets and banking.
He added that the BoE had planned a tougher response to
Hogg's failings than would have been expected in the private
(Reporting by Andy Bruce; Editing by Robin Pomeroy)