Financial Policy Committee (FPC)
BoE to conduct ‘desk-based stress test’ for 2024
Financial policy committee warns of some risks in UK corporate and household finance
Carolyn Wilkins joins BoE’s financial policy committee
Former Bank of Canada deputy governor will replace Donald Kohn on FPC
BoE says banks can cope with Brexit and pandemic
But central bank warns EU actions are risking some disruption as transition period ends
A new research agenda for the Bank of England
To manage the risks and opportunities of rapid financial innovation, policy-makers must look to cutting-edge research, writes Andrew Bailey
Leveraged lending creates challenges in UK stress tests
On some assumptions, banks would fail the tests; BoE to alter capital framework
BoE FPC: Markets may ‘jump to illiquidity’ if stressed
Debt and “structural illiquidity” could amplify global shocks, warns committee
Mark Carney on joined-up policy-making, forward guidance and Brexit
BoE governor rules out negative rates and change to inflation targets, offers update on too-big-to-fail and use of CCyBs, highlights challenges of an asymmetric monetary system, hits out at cumbersome payments and warns Facebook’s libra cannot ‘learn as…
IMF paper urges central banks to seek wider audience
Central banks could do more to broaden their message, senior official says; financial stability communications still challenging
BoE seeks to make financial stability more transparent – Brazier
Policy-makers look to improve communications and design tests more systematically
Communication still a challenge for the FPC – BoE’s Kashyap
“GDP at risk” could be a useful way of summarising risks for non-experts, FPC member says
BoE’s independence ‘significantly overstated’ – Sharp
Outgoing FPC member says financial stability independence needs to be protected
BoE publishes revamped FPC communications
New approach follows the style of MPC announcements more closely
BoE’s Taylor says external members are now better prepared
External members are now better briefed by BoE staff, but still avoid “group think”
Book notes: Macroprudential policy and practice, edited by Paul Mizen, Margarita Rubio and Philip Turner
An important overview of the current state of thinking about macro-prudential policy, but uncertainties remain about the current allocation of financial stability responsibilities
BoE held back on Brexit commentary for fear of influencing negotiations
UK central bank planned to publish analysis after the country left the EU in 2019
FPC better equipped for crisis than FSOC – BoE paper
Paper compares how macro-prudential regulators in UK and US would handle a 2008-style crisis
BoE warns high court of insurance Brexit fallout
UK central bank expects number of insurers filing court claims to be three to five times the “normal level” following Brexit
BoE’s Taylor pushes back against complaints of over-regulation
Capital requirements could have been made much tougher, and the FPC strives to achieve balance and accountability, Martin Taylor says
Where have all the women gone?
The number of women working at central banks has increased substantially, but a glass ceiling appears to remain for those reaching for senior management positions
BoE ups capital buffers as consumer credit outstrips income
“Pockets of risk” including effects of Brexit negotiations and car finance warrant attention, BoE says, though it stresses overall stability threats are at “normal” levels
Carney admits Brexit is no longer UK’s biggest stability risk
Bank of England governor quizzed on importance of transitional arrangements for Brexit; external financial policy member defends forecasting, but admits “surprise” at the health of the economy