Jeremy Warner: What goes around comes around

Outlook: I'm old enough to remember when general provisioning by banks so as to build up reserves against bad times was widely thought an accounting and taxation fiddle which disguised failings in management performance and diddled the Revenue out of its just rewards.

Now the Bank of England wants to bring it back again, both for the purpose of providing largerbuffers to draw on, and to restrain the tendency for excessive balance sheet expansion. Hey ho.