I'd support crisis probe, says bank chief A Parliamentary inquiry into the performance of the Bank of England during the financial crisis should be ordered immediately, MPs said last night, after the Bank's Governor Sir Mervyn King made the surprise statement that he would be happy to co-operate with such a probe. In a radio interview, Sir Mervyn denied accusations that he had persistently refused to allow a thorough investigation of the Bank's conduct during the period around the fall of US investment house Lehman Brothers and said that he would be pleased if such an inquiry was set up. "If it was felt that there should be another general review of the crisis we'd welcome that and we'd fully co-operate" he told the Today programme. That was seized upon by the Conservative MP David Ruffley, who said that he would be calling upon the Treasury Select Committee, of which he is a member, to launch an inquiry into the Bank's handling of the financial crisis. The Bank's role in the credit crunch, particularly its handling of the near collapse of Northern Rock, has been criticised. Mr Ruffley said: "An inquiry into the past actions of the Governor of the Bank and his senior officials is essential and urgent. Accountability demands nothing less. Some, however, questioned what a Parliamentary probe would achieve, given that the Coalition has already decided to dismantle the UK's tripartite regulatory structure, which split oversight of the financial sector between the Financial Services Authority, the Bank of England and the Treasury. The Financial Services Bill, which is before Parliament, will abolish the FSA and transfer oversight to a Financial Policy Committee super regulator. Andrew Tyrie, Treasury Select Committee chairman, said: "If the Governor thought that a review into the Bank's performance during the crisis had been necessary, it would have already have been completed." He said that the greater imperative was not an inquiry, but reforms to the Bank of England's ruling "court," which critics say lacks the capacity to hold the Governor and his staff properly to account. O'Donnell: I want to succeed King The former head of the civil service, Lord (Gus) O'Donnell, has suggested he may put himself forward to become the new governor of the Bank of England when Mervyn King retires next June. In an interview with The House magazine, Lord O'Donnell, 59, said: "It's a fascinating job, it's a huge job, much bigger than Mervyn's doing at the minute. I'll decide nearer the time.