Bank of England (BoE)
Bank of England to post collateral in OTC derivatives trades
BoE thought to be the first major central bank to change policy on collateralisation as it seeks to reduce dealer funding charges
BoE’s Jenkins discusses threats to financial system
Financial Policy Committee member considers dangers facing the global financial system; says future interventions to stabilise cross-border capital flows are likely
UK ‘catching up’ on collateral eligibility, say CBP panellists
Central Banking ON AIR event sees discussion of central bank decisions to extend collateral eligibility; panellists stress diversification should be executed with care in non-crisis times
BoE minutes show dovish shift
Minutes from Bank of England monetary policy committee’s latest meeting reveal governor Mervyn King voted for an increase to the asset purchase programme in the UK; lost out in narrow vote
UK inflation unexpectedly drops again
Office for National Statistics reveals CPI annual inflation fell this month; leads to renewed QE expectations and predictions of on-target inflation figure by the end of the year
UK credit and liquidity schemes met with uncertainty
BoE and government announce plans to improve credit and liquidity picture in UK; banks’ shares rise but questions remain on effectiveness of plans
UK plans joint BoE-government funding scheme
Mervyn King announces 'funding for lending' scheme for banks; stresses full support from government is necessary
UK banks must remain under national supervision, says Lloyds chief
Lloyds Banking Group chairman says it is 'crucial' UK banks remain under national supervision; calls for more forward-looking regulation
FSA’s Sants airs fears of overburdened BoE governor
Hector Sants says operational tasks handed to Bank of England governor under recent reforms could be “too great”; slams government and BoE for not listening to advice concerning Northern Rock collapse
Posen calls on BoE to go beyond gilt purchases
External MPC member urges purchase of assets other than government bonds; suggests creation of a Fannie Mae-type entity in the UK
BoE’s Haldane criticises financial models
Andrew Haldane argues that use of normal distributions in many financial models seriously underestimates risk
BoE paper assesses contingent capital risk
Financial Stability Paper examines contingent capital’s risk to stability when used to fulfil banks’ equity requirements; warns that such capital may cause wider problems
Andrew Bailey to join interim UK Financial Policy Committee
Bailey to join June meeting of interim Financial Policy Committee as a voting member; takes over as head of the Prudential Business Unit at the FSA in the same month
HSBC chief identifies four steps to resolve ‘emerging markets’ crisis in Europe
HSBC chief executive Stuart Gulliver believes a European ‘tarp’ plus issuance of eurobonds needed to keep eurozone intact; says Spain and Greece failed to learn lessons from Asian crisis
New members admitted to BoE Court
Queen of England approves government recommendations; Bradley Fried, Tim Frost and Dave Prentis become non-executive directors of the Bank of England
BoE’s Broadbent examines rising cost of capital
External member of the Bank of England’s Monetary Policy Committee considers causes of rising capital costs; suggests fear among investors of ‘extreme outcomes’ in eurozone
BoE paper investigates banks’ implicit subsidies
Paper discusses models for attempting to quantify implicit subsidy available to banks via government bailout; estimates range from £30 billion to £120 billion
UK FPC member discusses role of the committee
Alastair Clark, a member of the Bank of England’s Financial Policy Committee, considers new body’s financial stability role and the difficulties it faces
BoE’s Bailey debunks ‘dangerous’ free banking myth
Andrew Bailey says reform of UK banking sector is needed to include upfront charges on banking services; calls current supposedly free in-credit banking a "dangerous myth"
UK policy-maker weighs impact of QE on pension funds
Charlie Bean, a deputy governor of the Bank of England, talks about the impact of QE on the finances of pension funds; says funds will only be affected in some circumstances
BoE minutes reveal ‘finely balanced’ decision on QE in UK
Minutes from May meeting of Bank of England’s Monetary Policy Committee show uncertainty among policy-makers over the decision to leave asset purchase programme at its current level
IMF calls for looser monetary policy in the UK
Latest Article IV review of UK urges further QE or a cut to policy rate; Fund calls on Bank of England to act to boost growth
Bank of England launches review of crisis-handling
Court of the Bank of England commissions set of reviews to learn lessons relevant for the bank’s future responsibilities; first public announcement regarding analysis of this type
HFT adds value to the forex market, says Bank of England
While the effects of high-frequency trading activity should continue to be monitored, the practice adds value to the FX market, a senior Bank of England official has argued