Bank of England's Mark Carney tells bankers 'take responsibility or get out'

Governor slams bankers who emerged unscathed from financial crisis and now spend their days "playing golf"

Governor of the Bank of England Mark Carney (GETTY IMAGES)

If you can't stand the heat, then get out of the kitchen. That's the message Mark Carney, the Governor of the Bank of England, sent out to senior bankers over the weekend.

Speaking at an IMF event in Washington, Carney insisted senior executives should take responsibility and embrace new, tougher rules that could see bankers being held criminally liable for their actions.

Those who can't take the pressure or the prospect of increased regulation, should simply leave and stop complaining, according to the Canadian governor.

"If you are the chairman or the head of the risk committee, you have a responsibility for the activities of that institution," Carney said. "If you don’t think you can do it, you shouldn’t be on the board."

His remarks came amid reports that two senior HSBC executives are to quit apparently in protest at the new misconduct rules.

Under new Bank of England rules, bankers face jail time and could have their bonuses taken back even after they’ve been paid in an effort to prevent short-term decision-making.

None of the top executives involved in the financial crisis were prosecuted for their decisions leading up to the banks' bailouts by the government that cost taxpayers billions of pounds.

Carney had some tough words for bankers who emerged unscathed from financial crisis too. The governor conceded they "got away with it" and, far from facing public humiliation, they are often spotted playing golf in the best courses.

He added: "One of the legacies of the crisis in the US and by and large in the UK was that the individuals who ran the institutions got away.

"They got away with their compensation packages, they got away without sanction. Maybe they were not at the best tables in society after that, but they're still at the best golf courses. That has to change."