Bank of England (BoE)
BoE’s FPC sounds warning on implementation of global standards
FPC cautions on global co-operation around regulatory standards; follows plans for deregulation in the US and tit-for-tat threat from German regulators
BoE paper: ‘imperfect common knowledge’ implies Taylor principle need not hold
It is not strictly necessary for a central bank to respond to temporary deviations of the economy from trend, paper finds; result challenges findings such as ‘Neo Fisherism’
Exporters’ ‘sweet spot’ unlikely to be enjoyed for long, says BoE’s Broadbent
BoE deputy investigates cause of sterling’s Brexit depreciation, examining potential impact of market speculation
Carney: no double standards on conduct at BoE
Governor says central bank held itself to even higher standards than it expects of regulated firms in dealing with Charlotte Hogg’s disclosure mistake
Boost technology diffusion to solve productivity puzzle – Haldane
BoE’s chief economist says a “long tail” of low-productivity firms need support as they fall further behind a small frontier group
Third of businesses think investment has been ‘too low’ – BoE survey
Bank of England publishes results of survey of UK firms in latest quarterly bulletin; businesses experienced both real economy and financial “obstacles” to investment
BoE’s PRA should clarify approach to insurance, report says
Report asks Prudential Regulation Authority to review boundaries of “policyholder protection”, warning the regulator not to stray into the FCA’s territory
BoE research offers insights from new regulatory database
The new database, comprising banks’ regulatory submissions, allows authors to shed new light on the evolution of the UK banking sector in recent decades
BoE collaborates with fintech firms to enhance payment system
BoE establishes new fintech community to discuss developments in the industry; next round of proof-of-concepts to examine ‘interledgers’ and threat intelligence
BoE’s Forbes dissents as inflation looms
MPC member votes for 25bp hike as inflation looks set to exceed target until “at least” 2020; other members sitting on the fence, for now
BoE’s Jackson: need to intervene on market function still an open question
Head of forex and reserves management discusses evolving understanding of flash events, market structure, and whether there is a case for further intervention
Charlotte Hogg resigns from Bank of England
New deputy governor is stepping down as a damning report on her conflict of interest and suitability for the role is published
Basel action needed before ‘regulatory cycle’ turns
Failure to reach a deal raises the risk of more entrenched protectionist positions
Hauser makes case for BoE’s second line of defence
Ballooning balance sheet and growing contingent liabilities raise need for central bank to bring its risk management in line with “best practice”, executive director says
BoE paper isolates loan supply impact of credit crunch
“Rich, tailor-made data set” informs study of how pre-crisis bank lending characteristics may have impacted post-crisis credit supply
Hogg admits to breaching BoE’s code of conduct
New deputy governor says she failed to declare her brother’s role with Barclays; BoE Court officials say it is a “very serious breach” but not a “hanging offence”
The winners of the 2017 Central Banking Awards
Bank of England wins Central Bank of the Year, while Carlos Fernández Valdovinos picks up Governor of the Year; Donald Kohn receives Lifetime Achievement Award; 15 more awards unveiled
Lifetime achievement award: Donald Kohn
Donald Kohn’s objectivity, intelligence, humour, tireless energy and iron determination to get the job done epitomise the role of a dedicated public servant. He serves as an inspiration to others
People: Ireland deputy departs for private sector; BoE’s Broadbent to sit on new prudential committee
Cyril Roux to leave the Central Bank of Ireland in April; Mark Carney appoints Ben Broadbent to new prudential regulation committee; and more
Hogg stresses readiness to resist groupthink at BoE
New joint deputy and COO says she is willing to stand up to Mark Carney after committee chair flags risk of “over-mighty governorship”
BoE paper raises risk of ‘bubbly growth traps’
Asset bubbles can direct resources to low-productivity sectors, which could explain the long hangover from recent crises, author says
BoE acts to tackle disparity in capital requirements
PRA plans measures it believes will boost competition and address adverse incentives generated by the standardised approach to calculating risk weights
Shafik calls for candidness on uncertainty in her final speech
Outgoing Bank of England deputy says central banks must do more than just increase transparency if they are to restore trust
BoE unlikely to predict next financial crisis, says MPC member
BoE MPC members grilled by MPs in forecasting models and past errors; Vlieghe says current models are just not good enough