Banking Latest News: BOE Independence Can't Be Compromised

Wochit 0:45 mins

Now that Sir Mervyn King, the outgoing governor of the Bank of England, has made the *shocking*revelation that big banks actively lobbied against a regulatory push to get them to shore up their balance sheets, the politicians are, needless to say, *appalled*. European Central Bank head Mario Draghi is defending the ECB's bond-buying program, saying it is more important now amid recent market uncertainty. Erste Group Bank reversed guidance from just two months ago, saying it plans a cash call to help repay emergency state funding, and that operating profit will fall this year rather than hold steady.

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