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LONDON, Sept 23 (Reuters) - Regulators from across the worldshould coordinate better how they levy fines on banks formisconduct to avoid making it harder to build a resilientbanking system, Bank of England Deputy Governor Andrew Baileysaid on Tuesday.
Bailey told the British Bankers' Association that betterdiscussion was needed among regulators to ensure that big finesdon't get in the way of banks building up their capital buffers.
The "major message" is that a collegial approach is requiredto assessing and implementing penalties so that prudentialregulators are involved to assess the consequences of suchpenalties, Bailey said.
"That discussion has to be had and currently is not beingsufficiently had," Bailey said. (Reporting by Huw Jones, editing by Steve Slater)
