UK Treasury
People: Nellie Liang withdraws from Fed nomination; World Bank chief resigns
Trump nominee had played a key role in setting up the Fed’s stress tests; Kim was due to leave World Bank presidency in July 2022; further appointments in UK, Vietnam and Ghana
No-deal Brexit could hit UK harder than global financial crisis, BoE says
Latest analysis from the UK central bank says growth could plummet 8% in the event of a no deal
Esma head issues Brexit warning over UK CCPs
Maijoor calls for continued access for EU members
Fed aims for real-time interbank settlement of faster payments
Brainard points to “growing gap” in US transaction capabilities
'No-deal' Brexit would make UK banks add risk weight to EU bonds
UK Treasury says failure to agree EU exit deal would force capital charges
Dollar may soon give breathing space to emerging economies
Global growth, higher US debts and a tighter ECB policy could weigh on the currency
UK lawmakers launch inquiry into DLT and cryptocurrency
Parliamentary committee is to investigate whether UK regulators have struck the right balance in regulating emerging technologies without stifling innovation
Carney: financial infrastructure is now ‘fit for purpose’ for fintech
Bank of England governor announces RTGS will be opened to a broader range of participants, with new blueprint expected in May
New legislation to grant BoE more power over payments infrastructure
BoE’s Bailey details consolidation of core retail payment infrastructure along with UK central bank’s new powers
Report sees progress following UK market review but job ‘far from done’
Implementation report notes good progress, suggests responsibility must now fall to market participants; authors note ‘Brexit’ may delay some reforms
New UK law confirms Bank of England governance reforms
Bank of England and Financial Services Bill receives royal assent, cutting number of MPC meetings to eight a year; National Audit Office role expanded, but not into policy
BoE’s Sharp wants FPC powers over buy-to-let market
UK Treasury will consult on the prospect of handing the FPC powers of direction over buy-to-let lending; external FPC member in favour
Ex-BoE deputy to review UK statistics in effort to improve productivity measure
Charles Bean will lead an independent review on the ‘quality, delivery and governance’ of economic statistics produced in the UK, as government grapples with productivity puzzle
BoE FPC wary of buy-to-let risks
Financial policy committee asks bank staff to identify channels through which the market threatens stability; UK government caps tax relief on buy-to-let property
Bank of England joins with UK Treasury in sweeping financial markets review
Markets review initiated by government, which includes the central bank and Financial Conduct Authority, will look at conduct and transparency in financial markets
UK government rules out 'sterling zone' with independent Scotland
Scotland will face significant challenges in setting up its own currency, establishing a currency board or joining the euro as an alternative to sterling
Net lending to UK businesses still negative, BoE data shows
Second quarter figures for the UK's Funding for Lending scheme shows credit creation remains subdued; Bank of England attributes weak performance to alternative funding sources
UK government appoints team to choose new Libor administrator
Committee to be led by Baroness Hogg and will include Martin Wheatley of the FCA and Paul Fisher of the Bank of England; recommendations expected later this year
UK statistics office to keep 'unsuitable' inflation measure
The UK Office for National Statistics will not change how it calculates RPI inflation – but will initiate an alternative index in parallel
Robert Pringle’s Viewpoint: Can banking recover its lost reputation?
The UK’s Parliamentary Commission on Banking Standards issued a thoughtful paper in December offering clarity on some of the flaws present in current banking reform
King grilled over £37bn grabbed by UK Treasury
Treasury Committee takes Mervyn King to task over 'profits' from quantitative easing claimed by UK Treasury; BoE officials insist bank’s independence is not under threat
BBA resigned to likely loss of Libor-setting role
British Bankers’ Association says it will comply with Wheatley review if decision taken to change Libor-setting responsibilities; review’s conclusions to be presented on September 28
UK Funding for Lending Scheme opens
Bank of England and UK Treasury’s Funding for Lending Scheme window opens to UK banks and building societies; institutions have 18 months to borrow cheaply under the arrangement
UK Treasury proposes payments regulation overhaul
Government sets out options for changes to payments regulation in UK; favours creation of new ‘Payments Strategy Board’ to monitor industry and make recommendations