Le Ministre britannique des Finances, Georges Osborne, a déclaré au Parlement le 11 septembre que le Royaume-Uni avait besoin d'un Gouverneur de la Banque d'Angleterre crédible à la fois sur les marchés financiers et vis-à-vis des banques. Pour cela, en premier lieu, il va pour la première fois procéder par offre d'emploi dans The Economist et, en second lieu, modifier les conditions d'exercice des fonctions du Gouverneur, n'ayant plus qu'un seul mandat, mais plus long, et étant en charge non seulement de la supervision bancaire mais encore de la stabilité financière.

It quarrels on the best model of banking regulation, but the key is to determine the criteria against which we fight. However, two representatives of the Bank of England, during the global meeting of central bankers in Jackson Hole in the US, have appointed what they believe to be the relevant criterion: simplicity. In a short intervention, they stressed that the North American banking regulation would make about 30,000 pages and 60,000 pages for the European Union. Entitling their speech "Dog and Frisbee", they said that it is equivalent to require that a dog learns Newton's laws before catching the Frisbee. Under these conditions, many would would like to return to Glass-Steagall Act, the mere fact that this law was simple.

This is the drama of the summer and the case of the Mistigri: in what game drag one that will drop the player? Indeed, it pretends to discover that the purely declarative Libor system works by the good of those who declare, namely the banks. If one day a child said that the King is naked... This day was June 28, 2012, when the Financial Services Authority condemned the Barclays for manipulation of course. Since then, is the head, the bulk of support as the other? Thus, the FSA condemns. Well takes it, since the Government asked him to consider a reform of the Libor. On 10 August, the FSA makes first conclusions, to an increase in the powers of the FSA. But the English Parliament responded on 18 August, stating that if the FSA had a little more control this before, nothing would have occurred. Oh, what beautiful summer...

The case of the Libor is already designated as case which will constitute a turning point in the banking regulation. Indeed, even beyond the astronomical amounts of fines, penalties and damages that were intended to be pronounced, it’ s the declarative system, that is to say the part of self-regulation, the system which is in question. All banks are implicated. Further investigation for agreement is also open. More importantly, it would appear that the Bank of England, Central Bank, knew as early as 2008, has not reacted, or has covered, or even may have been complicit in banks. Therefore, the terrible question appears: "who rely?".