The departure of deputy governor Charlotte Hogg from the Bank of England should not inadvertently lead to a tightening of standards for senior managers in the banking sector, according to Mark Carney.

Speaking at a Banking Standards Board seminar on ethics and culture this morning, the central bank governor said the UK’s Senior Managers Regime - which sets a code of conduct for senior executives - had been adopted by the Bank but that "one of our colleagues did not meet these high standards recently".