Bank of England wants tougher rules for bank takeovers after Greensill By Reuters
By Huw Jones LONDON (Reuters) - Parliament should consider toughening up the rules on who can take control of a bank in light of what happened to Wyelands Bank following the collapse of Greensill Capital, Bank of England Deputy Governor Sam Woods said on Wednesday. Steel tycoon Sanjeev Gupta's metals-to-finance empire GFG Alliance took control of Wyelands Bank in 2016. Wyelands financed GFG Alliance that was closely linked to financing company Greensill Capital, which went bust earlier this year. Concerns emerged in 2018 over the way Wyelands was lending to GFG, Woods said. "The more...
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