Bank of England (BoE)
BoE’s revised Basel III plans will be ‘welcomed by industry’
Banks will breathe “sigh of relief” over less stringent proposals, say experts
BoE and bond vigilantes ‘not responsible for 2022 gilts crisis’
Ex-bank official rejects former PM’s claims that LDIs were primary cause of yield spike
The post-Archegos risk model rebuild begins… slowly
Following regulatory prodding, banks start to overhaul counterparty risk models. A flurry of new research on the topic may aid the effort
BoE calls for wider research into operational resilience
Most studies have focused on cyber attacks, though UK has been hit by varying types of incidents
Bailey highlights key challenges to central banking orthodoxy
BoE governor says focus on financial stability remains key during “Covid-Ukraine era”
Public sector pay rises ‘will not drive UK inflation’
Former BoE deputy governor says wage agreements’ impact on private sector prices is likely to be limited
Distribution of reserves determines QE and QT’s impact – BoE paper
Policies have ‘highly asymmetric’ impacts on reserve-scarce banks, researchers say
UK CPI up less than expected as services inflation falls
Figures may help allay concerns over persistent wage pressures
Honey, I shrunk the Fed. (Not a sci-fi fantasy)
Promoting the discount window may be the Fed’s key to shrinking its $7trn balance sheet, says Bill Nelson
Sovereign debt in default fell by 1% in 2023 – BoC study
Research finds shift in lending away from Paris Club creditors towards China
Major UK banks better placed for resolution, says BoE
Central bank publishes new assessment on institutions’ resolvability in the event of failure
Bank of England cuts rates for first time since 2020
MPC votes for 25bp reduction in split decision after Fed opts to hold
Innovate to defend status of central bank money, says BoE
Bank “exploring options” to widen access to settlement
Hedge funds and dealers have outsized price impact – BoE paper
Mutual funds have smaller impact so may not play central role in fire sales, authors say
Firms’ prices respond rapidly to CPI data – BoE study
Companies are more sensitive to rises in inflation than to falls
BoE to open non-bank emergency facility in Q4
Central bank working “at pace” to deliver facility, as it publishes provisional design
Long-term repo set for bigger role in BoE operations
Executive director Victoria Saporta outlines “major change in operating practice”
More than half of US organisations ‘vulnerable to IT failure’
New research underlines cyber risks to central banks following CrowdStrike IT outage
Macro-prudential announcements cut systemic risk, paper finds
BoE paper says unexpected changes that tighten policy are effective
BoE’s high-value payment system hit by ‘global payments issue’
Settlement of some payments delayed after problem originating with Swift; ECB delays closure of Target systems
Banks not fully prepared for repo risks – BoE’s Benjamin
Margining practices fail to account for “jumps to illiquidity”, executive director says
BoE economists hunt ‘driving forces’ of forecast errors
“Systematic” study of mistakes finds wage growth and expectations could have been modelled better
BoE should hold rates until pressures have eased, Haskel says
Changes to labour market estimates helped shift policy decisions, MPC member says
Masaaki Shirakawa on his ‘unease’ about 2% inflation targets and lessons from Japan
The former Bank of Japan governor speaks with Christopher Jeffery about the need to properly understand the business of banking, making sound contingency plans and the BoJ’s current policy constraints