LONDON Feb 8 Bank of England Deputy Governor
Jon Cunliffe warned against moves to dilute the banking rules
introduced after the global financial crisis, which have come
under fresh scrutiny following the U.S. presidential election
victory of Donald Trump.
"We've made very substantial progress since the financial
crisis, increasing the resilience of the financial sector and
increasing its ability to support the economy in times of stress
both nationally and in Europe and globally, including the U.S.,"
Cunliffe told the BBC in an interview on Wednesday.
"Those changes were necessary," he said. "None of us want to
see again the sorts of events we saw between 2007 and 2009 and
the costs of those events are still very clear."
In the United States, Trump last week ordered reviews of the
banking rules put in place after the 2008 financial crisis. In
Britain, some supporters of Brexit have called for a scaling
back of similar rules once the country leaves the European
(Writing by William Schomberg; editing by John Stonestreet)