He said that was also changing the risk-taking culture of the big banks.
But the governor said that it would still be necessary to 'ring-fence' every day banking from more risky investment activities.
That move was recommended by the Vickers report into banking that was released last year.
The Bank of England is taking over regulation of the banks from the Financial Services Authority next year.
The Commission on Banking Standards was appointed in July, following the Libor scandal and other episodes that damaged the reputation of banks in the UK.
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image: © Bank of England