Bank of England governor, worried about financial reform fatigue globally

On Monday Bank of England Governor Mark Carney said that he was worried about financial reform fatigue globally. The announcement came on the eve of a meeting of G20 finance ministers and central bankers.

"I worry about reform fatigue, not surprisingly, both at the FSB (Financial Stability Board) and more generally," Carney said at an Institute of International Finance meeting.

"Many of the toughest reforms are micro reforms that can have big political coalitions against them and have payoff very far into the future," he said, quoted by Reuters.

Although the financial system was less likely to amplify initial shocks than in 2008, there was no room for complacency about its resilience, the governor said.