Bank of England (BoE)
UK plans to tap deposit insurance to support resolution
New mechanism would use deposit insurance to fund failed banks, bridge banks and regulators
Finance ministry rep: a guest, a partner or an intruder?
Many central banks let government officials participate in policy meetings. Is that wise?
People: October to December 2023
A round-up of central bankers in the news and on the move during the past three months
2023: The year in central banking
Central Banking’s most-read story this year dissected the crisis at SVB, while other top pieces delved into operating frameworks, third-party risks and international economics
FCA official confirms end of ‘temporary permissions regime’
European firms must have UK regulatory approval by December 30
BoE holds rates for third straight meeting
“There is still a long way to go,” says Bailey
BoE and FCA set out plan to oversee ‘critical third parties’
Regulators fear growing reliance on outsourced services could threaten financial stability
UK regulator proposes tougher rules for money market funds
BoE welcomes FCA move and warns of wider risk of “dysfunction” in core markets
MPs cool on UK CBDC prospects
Treasury select committee says upsides to digital pound are “unclear”
Parliamentary committee calls for BoE governance reforms
Report urges simpler mandate, greater “diversity of thought” and regular reviews
Australia announces RBA governance law and new deputy governor
Labor government appoints BoE official Andrew Hauser to senior role
UK inflation falls more than BoE had expected
Housing prices fall year on year for first time since 2012, while energy prices also decline
BoE unveils monetary policy shocks database
Data reveals change in markets’ focus since introduction of “Super Thursdays”
People: Philadelphia Fed hires new number two
Indian and UK central banks make senior appointments; and more
Bank of England launches system-wide stress-test scenario
Exercise is first-of-its-kind look at macro-prudential impact of shocks to banks and non-banks
BoE promises new ‘rulebook’ for clearing houses and CSDs
Official says post-Brexit arrangements will be ‘more adaptable and dynamic’
UK financial institutions are ‘global public good’, says Bailey
BoE governor warns against fragmentation, criticises Brexit and discounts rate cuts
CCPs’ stress-test results have improved, BoE says
UK institutions can absorb default losses and maintain liquidity better than in 2021–22, regulator says
BoE wants stablecoins fully backed with central bank deposits
Systemic stablecoins would have to back issuance with unremunerated deposits
BoE’s Hauser makes case against ultra-lean balance sheets
Even with central bank backstops, markets are not reliable liquidity managers, official says
Bank of England holds rates in second split decision
UK faces two years of above-target inflation and near-zero growth, forecasts the BoE
‘Conceptual complexity’ has risen in BoE publications, research finds
Conceptual complexity plays central role in expectations, understanding and trust, authors find
‘Digital pound’ needed as cash successor, says BoE’s Cunliffe
Departing deputy governor says CBDC could be necessary by decade’s end
The predicament of bloated central bank balance sheets
Swollen balance sheets carry significant risks for combating inflation, ensuring financial stability and preserving central bank credibility, independence and effectiveness. How can central banks reduce them?