Excerpt
April 25, 2025, Interview: "The Yale Program on Financial Stability (YPFS) interviewed Sir Paul Tucker regarding his time (2009–2013) as deputy governor of the Bank of England2. Since joining the central bank in 1980, he worked as member of the Monetary Policy Committee, vice chair of the Financial Policy Committee, vice chair of the Prudential Regulation Authority, and member of the Court of Directors. Tucker has played a crucial role in the response to the Global Financial Crisis (GFC), and, as a member of the Group of 20 (G-20) Financial Stability Board, chairing its group on resolution and also chairing the Bank for International Settlements (BIS) committee on payments and settlement systems, was a vital part of constructing the post GFC international regulatory framework on financial stability. After leaving office, from 2016 to 2021, Tucker chaired the Systemic Risk Council. Since late 2013, he has been a fellow at the Harvard Kennedy School Mossavar-Rahmani Center for Business and Government, writing at the junction of political economy and political theory. He is also senior fellow at Harvard’s Center for European Studies, president of the UK’s National Institute for Economic and Social Research, and a member of the advisory board of the Yale Program on Financial Stability. Between 2016 and 2025, he was on the board of Swiss Re. Our discussion was on the reforms required to establish an effective global safety net for systemically important financial institutions (SIFIs)."