United Kingdom
FCA chief announces launch of fintech ‘nursery’
Rathi also says social media firms should be held accountable for products they advertise
BoE broadens access to RTGS with ‘omnibus’ account model
Accounts will allow payment system operators to ‘pool’ client funds for transfers in central bank money
BoE and Treasury launch CBDC task force
Central bank also forms new division to lead “internal exploration” of digital currency
‘Dark trading’ approach shows UK regulators are more ‘nimble’ – FCA
UK regulator has not seen evidence that dark trading harms market participants
Chief economist Haldane to leave BoE
Influential thinker on regulation and monetary policy leaves UK central bank to lead think-tank
‘Bottom-up’ approach can improve inflation forecasts – BoE paper
Item-level inflation data contains useful information for forecasting, authors find
Carolyn Wilkins joins BoE’s financial policy committee
Former Bank of Canada deputy governor will replace Donald Kohn on FPC
Bank of England targeted in Extinction Rebellion protest
Front entrance daubed in “fake oil” as part of wider protest against financial sector
BoE’s Tenreyro highlights divergence in UK and US policies
US focused on protecting incomes, while UK protected jobs, MPC member notes
BoE looks to fix flaws in funds’ use of swing pricing
Central bank finds some funds overestimate the liquidity of their assets
Currency services initiative: CCL Secure
The banknote substrate provider is making a concerted effort to reduce its environmental impact by optimising production processes and building a recycling plant in Mexico
BoE holds interest rates as MPC members differ over risks
MPC points to signs of stronger recovery but also uncertainties around household spending
FCA to clamp down on firms with low levels of diversity
UK regulator says it will consider how best to use its powers if inclusion and diversity are in question
Lifetime achievement: Charles Goodhart
The LSE and BoE veteran economist has his own ‘law’, and played a key role in the establishment of monetary policy in the UK, Hong Kong’s peg and the ‘New Zealand model’, which influenced a generation of central bankers
UK’s FCA lays first-ever criminal charges of money laundering
Regulators charge NatWest with failing to monitor transactions; bank faces unlimited fine
BoE’s Woods says PRA needs more rulemaking powers
PRA chief dismisses “caricature” of the “rampant regulator intent on crushing the industry”
Green initiative: Bank of England
UK central bank breaks path for others by disclosing climate-related risk across all operations
Expectations play key role in policy transmission – BoE paper
Authors use high-frequency data to assess importance of term premia and expectations
BoE paper outlines new theory of automation and inequality
Authors highlight “new theoretical mechanism” linking automation to higher wealth inequality
US spillovers might increase need for UK easing, says Hélène Rey
Andrew Bailey says policy will be “state contingent” but negative rates are possible
BoE to consult on Sonia clearing mandate
Long-dated Sonia swaps set to lose clearing exemption as liquidity shifts from Libor
Link between poor culture and higher bank risk ‘substantial’ – BoE paper
Regulators should ‘interrogate’ firm data to improve bank risk models, economists argue
UK regulators fix end date for Libor
Most Libor settings will cease at the end of 2021 as Bailey tells firms to finish their transitions
UK’s FCA appoints five women to senior roles
Regulator appoints chief operations and data officers, executive directors and market oversight chief