Bank of England (BoE)
We're half-way to normal, says UK's King
Presenting the Bank of England's Inflation Report for November, Mervyn King, the governor of the Bank, said that key indicators of stress in financial markets had recovered partly from the levels reached in August and September but that the situation was…
Model predicting instability in development
Charles Goodhart, a former member of the Bank of England's Monetary Policy Committee, and Dimitrios Tsomocos, a lecturer in financial economics at Oxford University's Said Business School, are working on a model aimed at alleviating financial fragility.
Scrap agencies' role in Basel: ex-UK rate-setter
Basel II needs to go back to the drawing board before it is even out of the blocks because of rating agencies' influence in the framework, says Willem Buiter, a former member of the Bank of England's monetary policy committee, now a professor at the…
European central bank response wins plaudits
The reaction of European central banks to the credit crisis gained International Monetary Fund (IMF) approval on Monday.
Central banks criticised for communication failure
The world's most powerful central banks were inconsistent in their communication and lacked coordination during the summer's market turmoil, Richard Portes, one of the authors of an influential report on international financial stability, said on Monday.
Stability needs reliable systems: BoE's Jenkinson
The resilience of wholesale payment, clearing and settlement systems to both operational and financial shocks remains a key requirement of financial and monetary stability, says Nigel Jenkinson, the executive director responsible for financial stability…
Bank of England holds rates at 5.75%
The Bank of England's rate-setting board voted on Thursday to keep its benchmark bank rate at 5.75%.
City wants to keep King
City of London bankers and economists have said they want Mervyn King, the beleaguered governor of the Bank of England, to serve a second term.
Old Lady could get more privacy under new rules
The Bank of England could soon be able to rescue troubled lenders in secret as a result of the recent Northern Rock crisis.
UK funds unlikely to have helped in crisis
Alistair Darling, the UK chancellor of the exchequer, implied on Thursday that injecting funds into the money markets would have done little to lessen the impact of the subprime crisis in the UK.
New shocks may emerge, Old Lady warns
Holders of stock, commercial real estate and the US dollar could be the next victims of the banking crisis, the Bank of England predicted in the latest edition of its financial stability report.
UK business view used to judge economic impact
Kate Barker, a member of the Bank of England's monetary policy committee, will use business surveys and housing market indicators to judge whether the downside risks to the UK's inflation outlook have increased.
Bank of England reports on the crisis
The Bank of England has acknowledged that the recent banking crisis has revealed that the UK's financial authorities need to strengthen their crisis management arrangements.
Northern Rock's BoE debt rises to £16 billion
Northern Rock has borrowed a further £3 billion ($6.1 billion) from the Bank of England this week, the Bank's balance sheet reveals.
Minutes show BoE board split on rate decision
David Blanchflower, a member of the monetary policy committee at the Bank of England, called for a rate cut at October's meeting, the minutes published on Wednesday reveal.
BoE should have helped earlier: Rock chief
Adam Applegath, the chief executive of Northern Rock, said on Tuesday that injections by the Bank of England earlier on could have mitigated Northern Rock's problems.
SWF mentioned in Virgin bid for Northern Rock
A Middle-Eastern sovereign wealth fund could make up part of Virgin's consortium bid for Northern Rock.
Former financial stability adviser returns to Bank
Alastair Clark, a former executive director at the Bank of England, is to rejoin the Bank to advise Mervyn King, the governor, on financial stability.
UK regulators launch reform paper
Alistair Darling, the UK chancellor of the exchequer, announced on Thursday the publication of a banking reform discussion paper, written by the Treasury, the Financial Services Authority (FSA) and the Bank of England.
UK financial sanctions: shift in responsibility
Responsibility for financial sanctions is being transferred from the Bank of England to the Treasury on 24 October.
Differing results on investment adjustment costs
A Bank of England paper evaluating the costs of changes in investment shows the elasticity of investment with respect to the shadow price of capital (the value to the firm of one additional unit of capital) to be 15 times larger than aggregate models…
King names lessons learned from crisis
Mervyn King, the governor of the Bank of England, said on Tuesday he had identified three lessons, so far, from the banking crisis.
King speaks on Northern Rock
Three weeks ago, thousands of depositors queued on the streets outside branches of Northern Rock to take their money out. Those scenes, broadcast around the world, were shocking. How did they come about and how can we prevent them in future? My focus…
FSA chief admits failings over Northern Rock
Hector Sants, the chief executive of the Financial Services Authority (FSA) said on Tuesday that it had failed to anticipate the impact of the credit crunch on Northern Rock, a UK mortgage lender.