Bank of England (BoE)
BoE’s Haldane warns against ‘complacency’ on inflation
Chief economist says uncertainty is high but risks are “skewed to the upside”
Fed’s ‘operational error’ disrupts key payment services
Fedwire, ACH and other transfer systems suspended for several hours
BoE unveils plan to ‘transform’ data collection
Decade-long effort to overhaul data standards and methods of reporting
Covid-19 highlighted machine learning model limits – BoE research
Economic downturn could not have been forecast on the basis of data alone, BoE says
Adding QE can fix New Keynesian models – BoE paper
“Mild adjustments” to balance sheet are enough to avoid paradoxical results, authors find
Carney takes job on Stripe board
Former BoE governor adds role at fintech firm to growing portfolio of positions
Book notes: Asset management at central banks and monetary authorities, edited by Jacob Bjorheim
This excellent book fills a critical gap existing since IMF guidelines on asset management were revised
Green finance: new initiatives in China, Europe and Americas
Eurosystem adopts common investment principles; China pushes climate modelling; and more
BoE may diverge from EU on software as capital
PRA opens consultation after Bailey says there is no evidence software assets should count as capital
Shadow banks play key role in business cycle – BoE paper
Contraction in securitisation can spill into wider credit conditions, researchers say
Fed’s 2021 stress test includes major asset price shock
CCAR will evaluate 19 largest banks; scenario includes 55% fall in equity prices
Book notes: The political economy of the special relationship, by Jeremy Green
Unsatisfactory story about the decline and resurgence of the UK’s importance in the global financial system
People: BoE’s executive director to leave
Alex Brazier to leave BoE in September; ECB looks for senior climate official
Andrew Bailey attacks European Union over regulations
EU risks regional dispute as it holds UK to standard applied to ‘no other country’ – BoE governor
Judge questions Bailey’s account of LCF investigation
Elizabeth Gloster rejects BoE governor’s claim of a “misunderstanding” over his role
Bailey hits back at critics in new hearing on LCF scandal
“I am quite angry”, says BoE governor, as he denies accusation of cover-up
European central bankers see room for fiscal-monetary co-operation
Pandemic showed it was “critical” for both policies to work together, say central bank governors
Bailey defends BoE’s independence
Claims that buying government debt threatens independence are “entirely without merit”, governor says
BoE tells firms to prepare for negative rates
Preparation is not a signal that negative policy rates will be adopted, Bailey stresses
BoE paper seeks origin of systemic risk
Network analysis tool can overcome problems with other approaches, authors say
Central clearing proved resilient in ‘dash for cash’ – BoE’s Segal-Knowles
Challenge now is to “sustain and strengthen” the system, says executive director
BoE paper explores macroeconomic impact of macro-pru
Authors build DSGE model featuring “detailed banking sector” and sticky interest rates
BoE scolded for carbon-heavy investments
Parliamentary committee says current bond buying undermines “diplomatic leadership” on climate change
BoE adjusts stress-testing framework
Tests this year will be based on 2020’s reverse stress test