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March 17, 2014 AT 6:29 AM
The Bank of England's deputy governor for financial stability said on Monday that the world's biggest banks still could not be dismantled safely, more than five years after the collapse of Lehman Brothers. Jon Cunliffe, the deputy governor, told a Chatham House financial conference said that International standard setters have made progress in reforming banking rules since Lehman went under in September 2008, but the core task of ending too-big-to-fail banks remains.