United Kingdom
BoE governor appointment ‘on track’
UK finance minister indicates Mark Carney won’t be asked to extend his term again
Machine learning can help spot bank distress – BoE paper
Use of confidential data helps catch distress early, and ML can cope with complexity, authors say
UK watchdog unveils curbs on illiquid funds
Some open-ended funds will now have to make contingencies for stressed market conditions
BoE finds room for improvement in cyber attack exercise
Participants have made changes since previous exercise but some issues remain, central bank says
Regulators should embrace digital ID
The lack of a single ID in financial services is causing unnecessary friction, argues Dave Birch
Carney calls for more nuanced approach to green metrics
Binary green-brown distinction is not enough to drive transition to low-carbon industry, BoE chief says
BoE paper explores collateral’s impact on labour market
Collateral value affects hiring decisions by small businesses, authors find
BoE paper measures ‘market-implied’ systemic risk
“Shadow capital adequacy” shows how default risk impacts capital assessments
People: Bank of Canada appoints new deputy
Bank of Canada promotes from within; BIS appoints regional chair; FCA names new executive
Rate round-up: Fed triggers further global easing
Fed cut prompts flurry of action, with many central banks hinting at a more dovish stance
Timetable for BoE governor appointment thrown into doubt
Treasury Committee pushes finance minister to confirm plans or set out new timetable “immediately”
UK cash use squeezed by rise of fintech and ATM fee changes
Accounts with fintech firms and open banking proving increasingly popular, report finds
BoE paper: ‘tails’ matter when studying global financial cycle
Authors look to the tails of the distribution to understand exchange rate risk in the global cycle
BIS: forex volumes rise to $6.6 trillion as London trading soars
While the UK capital reinforces its prominence in forex markets, trading in Asian currencies heats up
FCA chief calls for EU to extend Brexit clearing exemption
Bailey also urges EU to grant equivalence determinations for UK trading venues
BoE paper looks at how to halt ‘cascade’ of settlement fails
“Buy-in” process could help to avoid system-wide “gridlock”, but design is challenging
BoE’s Hauser urges firms to adapt to forex market fragmentation
Less sophisticated firms are paying much higher spreads, executive director says
People: Colombia appoints new policy board member
Roberto Steiner joins the Central Bank of Colombia; UK FCA appoints chief economist; new PSR head named
‘Non-salient fees’ matter for mortgage pricing – BoE paper
Many borrowers appear to be less sensitive to fees than to interest rates, and firms exploit this
UK regulator seeks ways to ‘open up’ payments data
PSR says “synthetic data” could be used in trials to protect confidentiality
Shared supervision can help avoid ‘capture’ – BoE paper
Dividing tasks across agencies can lead to better outcomes by avoiding “supervisory capture”
UK lawmakers call for transparency on BoE governor appointment
MPs call on finance minister to make shortlist public as survey highlights trust deficit
PRA’s Mills on future fintech challenges for supervision
The PRA's chief operating officer Clair Mills discusses tensions caused by disruptive innovation, major uses of AI, the role of big tech and the future of supervision
30 years of forecasting: have central banks learned anything?
Forecasting models are constantly being upgraded, but forecast errors are still persistent. What more can central banks do?