The Deputy Governor of the Bank of England, Paul Tucker, said that officials need regulations to control activities that happen outside the banking systems as a way to avoid another credit crisis. Banks around the world are using tighter rules on banks as a way to make sure that the worst financial crisis since the Great Depression does not occur again.

Yesterday, U.S. President Barack Obama also declared tighter regulations to prevent future stress in the financial and banking sectors. Also, the Governor of the BoE recommended dividing the retail operations banks from investment banks.