Bank of England (BoE)
BoE review estimates OTC margin requirements could hit $800bn
Bank of England review models the effect of OTC reforms on margin requirements; anticipates slow adaptation
BoE’s Jenkins attacks banking sector myths
Bank of England Financial Policy Committee member says myths about regulation are rife in the banking sector, with reform likely to suffer until the myths are dispelled
Banks could cut bail-in risk, says BoI capital head
Banks could issue more subordinated debt to protect senior creditors from the threat of a bail-in – in theory. But Bank of Ireland capital head says market is too thin
BoE’s Fisher details progress on ‘funding for lending’ scheme
Bank of England MPC member Paul Fisher reveals the initial uptake of UK ‘funding for lending scheme’; says impact difficult to judge
Trust in Modigliani-Miller theorem is misguided, say former BCBS members
Regulators are wrong to believe changing the capital structure of banks will not affect their value as stated by the Modigliani-Miller theorem, say Urs Birchler and Patricia Jackson
King defends record in first live interview
Bank of England governor justifies missed inflation targets, redistributive impact of quantitative easing and design of banking regulation in first live extended television interview
Robert Pringle’s Viewpoint: Central bankers gamble for high stakes
The world’s major central banks have made high-stakes bets in a bid to stabilise economies. But their efforts may do little to promote confidence in the longer-term future of monetary management
BoE minutes reveal unanimous decisions
Minutes show members of the BoE Monetary Policy Committee in agreement over QE and interest rate; says weak demand and high inflation were key considerations in decision
BoE director says bail-ins getting closer
Andrew Gracie says the central bank is close to a functioning bail-in regime; a framework has been developed under the European Recovery and Resolution Directive
Time to rethink the centrepiece of economic management, says Gieve
Former deputy governor of the Bank of England challenges role of independent central banks pursuing inflation-targeting mandates
BoE begins search to replace King
Job advert for the role of governor of the Bank of England is published; CentralBanking.com poll reveals expectation for the next chief to come from another central bank
BoE quarterly bulletin presents latest research
Quarterly bulletin gives overview of economic developments and contains papers on stress-tests, factors behind low sovereign bond yields and uncertainty in inflation forecasts among other topics
BoE releases banknotes bearing Chris Salmon’s signature
Signature of the current chief cashier of the Bank of England to appear on new banknotes; production method for notes altered
UK MPC member discusses QE exit strategy
David Miles says BoE will increase interest rates before selling government bonds; strategy will provide margin for error when monetary policy is tightened
New UK MPC member coy over policy stance
Ian McCafferty maintains a neutral perspective ahead of his first MPC vote; says it is difficult to be precise about effects of QE
BoE’s Dale says further easing carries ‘potential risks’
Spencer Dale recognises role monetary policy steps have played in stabilising UK economy, but warns further quantitative easing could come with drawbacks
Central banks launch joint investigation into Libor scandal
Economic Consultative Committee announces examination of reference rates used in financial markets; market will be consulted
BoE keeps monetary policy steady
Bank of England holds interest rate and leaves QE programme at previous level; asset purchases expected to be complete in two months’ time
Tributes to the governor that never was (Andrew Crockett, 1943-2012)
Bank of England, BIS and IMF heads pay respects to policymaker Andrew Crockett, who died this week. Crockett described as the governor ‘that never was’ and the ‘midwife’ to the HKMA
BoE executive director slates complex regulation
Andrew Haldane criticises the length of legislation recently introduced in the US and Europe; appeals for a simpler approach to financial regulation
Japan’s Nishimura says UK Funding for Lending scheme needs time to work
Kiyohiko Nishimura discusses unorthodox policies central banks have been turning to; believes the BoE’s Funding for Lending scheme will take a long time to have “concrete benefits”
Former MPC member blasts “unduly powerful” future BoE governor
Ex-MPC member Kate Barker says new macro-prudential policy-maker should not be independent of government; shake-up of banking regulation system in the UK will leave governor too powerful
BoE weighs distributional effects of QE
Paper assesses impact of quantitative easing on overall economy and examines distributional effects; finds main benefits for holders of assets and well-funded pension schemes
BoE paper studies public banking interventions
A Bank of England study finds that when it comes to public intervention in banking, size matters; indicates that interventions made during the current crisis were successful