BOE governor Bailey: It’s clear that the stability of distribution immediately was to chop charges

• It’s the first time that there was two rounds of voting for the financial institution fee
• The distribution was for four members wanting to carry, four members wanting to chop by 25 bps, and 1 member wanting to chop by 50 bps
• There’s a provision within the laws for the governor to make a casting vote
• However my view is that stated provision is one which needs to be used when the committee has even variety of members; it isn’t the case right here

This text was written by Justin Low at investinglive.com.