Bank of England (BoE)
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
BoE counters concerns raised in Fixing Libor report
The Bank of England says new laws and processes will give the central bank greater regulatory powers in the future to deal with episodes similar to Libor
BoE minutes show MPC left out rate cut discussion
Possibility of cutting benchmark interest rate was not discussed at latest MPC meeting; policy-makers decided to keep rate and quantitative easing steady
UK inflation figures show surprise rise in July
Office for National Statistics surprises markets by announcing CPI inflation rose to 2.6% in July; Bank of England last week predicted the rate would continue to fall this year
King says black clouds remain over UK economy
Governor of the Bank of England reveals lower growth prediction for UK; inflation also expected to fall but King denies country faces a lost decade
BoE’s Tucker says bail-ins part of too-big-to-fail solution
Paul Tucker says bail-ins are an ‘important topic’ for policy-makers trying to address the issue of ‘too-big-to-fail’ banks; hints others are considering similar options
Cleveland Fed researchers find fault with BoE’s Funding for Lending
‘Economic Trends’ research from the Federal Reserve Bank of Cleveland identifies possible flaws in the Bank of England’s Funding for Lending Scheme; warns of risk to independence
UK Funding for Lending Scheme opens
Bank of England and UK Treasury’s Funding for Lending Scheme window opens to UK banks and building societies; institutions have 18 months to borrow cheaply under the arrangement
BoE statistics indicate slight improvements in UK lending
Lending statistics show decline in lending to UK businesses lessens slightly while loans to individuals increase; overall M4 lending shows slight increase
Bank of Canada paper finds major benefits of QE in UK and US
Researchers study impact of asset purchases by Federal Reserve and Bank of England; identify ‘powerful effect’ on output and inflation
BoE paper models risk of financial shock amplification
Working paper develops model of financial system linkages to illustrate shock transmission; finds spread of defaults is amplified by fire sales and curtailed lending
Robert Pringle’s Viewpoint: The next governor of the Bank
British bank scandals have dramatically reduced the likelihood of a commercial banker taking over from Mervyn King as governor of the Bank of England. But there are still plenty of other candidates
UK FSA chairman slams past regulatory mistakes
Adair Turner highlights ‘dangerous institutional underlap’ prior to financial crisis; sets out steps to improve regulation, but says bank management must also change
BoE paper studies information in sticky and flexible prices
Working paper studies the usefulness of sticky and flexible prices in showing firms’ estimates of the output gap and inflation expectations
UK Treasury proposes payments regulation overhaul
Government sets out options for changes to payments regulation in UK; favours creation of new ‘Payments Strategy Board’ to monitor industry and make recommendations
IMF urges UK to take further measures to promote growth
Staff report on UK Article IV Consultation urges policy-makers to act in order to boost ‘flat’ economy; says fiscal tightening may need to be eased next year
BoE reports mixed credit conditions
Bank of England’s quarterly ‘Trends in Lending’ shows lending to UK businesses contracted but consumer credit flows rose over the second quarter of 2012
Former Bank of England MPC member blasts QE dissenters
David Blanchflower says Spencer Dale and Ben Broadbent were 'on another planet' when they voted against an increase to the asset purchase programme; minutes of July MPC meeting show 7:2 split
NY Fed failed to share Libor low-balling fears with BoE, says King
Governor of the Bank of England says NY Fed did not pass on anecdotal evidence of Barclays’ manipulation of Libor submissions; says recommendations for reform were not a warning of trouble
Del Missier renews pressure on BoE over Libor scandal
Former chief operating officer of Barclays Bank says he was told instruction to submit lower Libor rates came from Bank of England; directly contradicts Bob Diamond’s testimony
Geithner emails to King bring BBA into focus over Libor
Communications between the then president of the NY Fed and the governor of the BoE show 2008 concerns over Libor system; British Bankers' Association was asked to look at recommendations for change
BoE’s Jenkins examines severity of Basel regulations
Bank of England Financial Policy Committee member, Robert Jenkins, says Basel III requirements are not too tough on banks; argues higher capital levels do not harm the economy or bank shareholders
BoE paper quantifies output gap estimation errors
Bank of England discussion paper models accuracy of output gap estimations based on OECD data; argues that absolute size of revisions to estimates does not improve over time
Agius confirms BoE governor’s intervention in Barclays
Chairman of Barclays recounts meeting with Mervyn King during which he was told Bob Diamond had lost the confidence of the regulator; following day the bank’s chief tendered his resignation