Lax prudential rules and financial oversight failed to address a sharp deterioration in the quality of Banks' loan portfolios.

审慎规则和金融监管松懈，未能制止银行贷款组合质量的急遽恶化。

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The directive also put home-country supervisors in charge of prudential oversight while host-country regulators were to ensure that local bank branches, wherever their headquarters, observed local rules.

ECONOMIST: European financial regulation: No SECs please, we’re European | The

The government is dismantling the Financial Services Authority and giving the Bank of England control of macro-prudential regulation and oversight of micro-prudential regulation.

BBC: Treasury Committee