United Kingdom
FCA clamps down on consumer protection breaches
Nearly 10% of firms see application for consumer investments blocked, data reveals
FCA court victory gives clarity to SMEs over Covid disruption
Court ruling will see a larger number of businesses receive payouts from their insurers
Debt-service ratio limits have greatest welfare benefit – BoE research
Authors find macro-prudential tools can also boost the transmission of monetary policy
BoE must improve understanding of QE – report
Lack of understanding has prevented BoE’s ability to build public trust in new policy tool, report says
BoE’s Tenreyro says negative rates likely to work in UK
Looser monetary policy might help limit “scarring” to the economy, says MPC member
Some firms need to provide ‘better’ information to BoE – David Bailey
Executive director says BoE must have sufficient influence over supervisory outcomes post-Brexit
Terms of trade shocks not symmetric – BoE paper
Developing countries particularly vulnerable to export shocks, study finds
People: Rolle gets second governor term at Central Bank of Bahamas
Bahamas governor get second five-year term; new director-general for information systems appointed at ECB; Central Bank of Namibia recruits banking operations head, and more
Central banks must become ‘market-makers of last resort’ – BoE’s Hauser
Measures used in Covid-19 crisis are insufficient for the long term, BoE official says
Pandemic has raised risks for smaller UK financial firms – FCA
Over a fifth of firms responding to survey are at heightened risk of failure, UK regulator says
BoE officials welcome stronger post-Brexit regulatory powers
Andrew Bailey says UK must not become a “rule-taker” on financial services
BoE’s Bailey explores future of balance sheet policy
Question of whether QE is “state contingent” could impact how it is deployed through the cycle
FCA undergoes reshuffle of senior managers
Regulator establishes new consumers and competition directorate
UK’s FCA introduces climate disclosure rule
Nearly 500 firms will have to meet ‘comply or explain’ rule on TCFD recommendations
Covid-19 likely harms productivity – BoE paper
Private sector could lose 5% of its productivity in Q4 this year, authors estimate
BoE’s inflation target may hamper response to no-deal Brexit – IMF
Report urges BoE to bolster market communication in the event no deal is reached
BoE’s MPC says UK outlook is ‘unusually uncertain’
Outcome of Brexit talks and evolution of pandemic leave future cloudy, BoE says
FCA fails to register crypto asset firms by cut-off
Regulator establishes temporary registration regime for firms which submitted an application on time
New Isda ‘fallbacks’ critical to making Libor transition a ‘non-event’
New protocol and supplement offer a transition away from Libor rates in 2021, despite CFTC saying 2,400 companies still exposed and Fed extending some US libor contracts until mid-2023
BoE says banks can cope with Brexit and pandemic
But central bank warns EU actions are risking some disruption as transition period ends
The long-term impact of Covid-19 on banknote demand
The coronavirus pandemic has challenged cash usage assumptions at a time when central banks make only limited use of longer-term forecasts
BoE considering legal action over hoax press release
Group calling themselves the ‘Yes Men’ claimed credit for the fake
FCA details Mifid onshoring process post-Brexit
UK regulator has built equivalent systems to ensure firms can continue with Mifid reporting
BoE’s Saunders mulls dual interest rates for UK
Funding banks at less than the policy rate could be a useful tool, MPC member says