Bank of England (BoE)
BoE paper explores liquidity traps with ‘Hank’ model
Precautionary savings can send economy into deflationary spiral, authors find
BoE recognises Ukrainian bail-in at centre of dispute
Decision likely to be seen as important endorsement of NBU’s action over scandal-hit lender
BoE paper highlights link between mortgage limits and consumption
Authors find “new link” between down payment requirements and household consumption
UK regulators launch plan for less liquid fund structure
Aim is to allow productive investment for the long term while curbing vulnerabilities
BoE’s Nelson warns against ‘rigid’ approach to op risk
Firms may fear the “wrath” of regulators, but rules should not offer guarantees, says official
BoE forecasts 7.25% UK growth in 2021
Bailey warns downside risks to the outlook remain
BoE prepares to break with EU rules on smaller banks
Central bank signals a more tailored approach to regulating non-systemic banks
BIS to operate sterling liquidity facility backed by BoE
Move echoes 20th century arrangements when BIS acted as intermediary in swaps network
Central banks halt longer-term dollar liquidity auctions
Major central banks will no longer offer dollar liquidity at the 84-day maturity
Macro-prudential tools can boost long-run growth – BoE paper
Authors develop theoretical framework linking financial frictions to long-run growth
BoE publishes emails showing unsuccessful lobbying by former PM
David Cameron urged BoE to support Greensill Capital during pandemic, correspondence shows
BoE to close cash distribution centre in 2023
Cash operations will continue at Debden site while BoE reviews geographical footprint
BoE’s Bailey extols virtues of ‘meeting varied people’
Governor launches new initiative to gather diverse views from market contacts
Capital and liquidity rules work better together, BoE paper finds
Literature review finds having both requirements is better than just one, but “significant gaps exist”
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
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
NGFS suggests central bank climate policies
Green network advises measures to reduce financial risk and promote decarbonisation
BoE looks to fix flaws in funds’ use of swing pricing
Central bank finds some funds overestimate the liquidity of their assets
Wholesale CBDCs may not fix cross-border frictions – panellists
Policy-makers question whether CBDCs will make international payments faster and cheaper