Darling backs the FSA


The Chancellor of the Exchequer, Alistair Darling, is set to introduce a new banking reform that will give the FSA more power to intervene if banks get into trouble.

The new banking reform will be unveiled in 2 weeks time and Darling hopes that this will help to strengthen global supervision in the financial market.

Darling also said the Government had authorised the Bank of England to inject in excess of £100bn into the markets to help stabilise the financial system.

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