Sam Woods: The revolution is over. Long live the revolution!

Speech by Mr Sam Woods, Deputy Governor for Prudential Regulation of the Bank of England and Chief Executive of the Prudential Regulation Authority (PRA), at the City Banquet, London, 26 October 2016.

My Lord Mayor, Ladies and Gentlemen
Let me begin by saying that it is a great privilege to be here tonight, and a great honour to lead the Prudential Regulation Authority (PRA) within the Bank of England.
Tonight I am going to start with a word you don't usually hear from a regulator. My theme is revolution. Not a political revolution, but a prudential revolution, a revolution that has occupied your minds - and our speeches - since 2008.