Bank of England (BoE)
Staff cuts made at majority of central banks since 2013
But staff numbers grow at several banks, including ECB and Bank of England
Lower interest rates make risky investments more likely – BoE paper
Gains from gambling increase when rates are low, researcher argues
Two women will join Bank of England’s financial policy committee
Colette Bowe and Jayne-Anne Gadhia to join FPC later this year
Low rates can encourage risk-taking – BoE paper
Author models the risk-taking channel of monetary policy alongside a “bankruptcy channel”
Minority representation at BoE requires ‘step change’ – Carney
Minority groups are underrepresented, report lower satisfaction and suffer higher staff turnover
2018: The year in review
The past year marked a return to instability, but also saw some innovations among central banks
Europe approves post-Brexit CCP and CSD framework
EC adopts temporary regime to allow UK CCPs and CSDs to continue operating for 12 months after Brexit; BoE and Esma in talks to ensure efficient supervision
BoE warns Brexit uncertainties have ‘intensified’ as rates stay on hold
Brexit “weighing” on UK markets; committee votes unanimously to keep rates on hold
Auditors call for BoE to do more to modernise working practices
Complex, outdated and overly manual processes are adding to costs, says report
BoE unveils ‘final major piece’ of UK resolution regime
Consultations outline how the BoE will assess banks’ “resolvability”; banks will be expected to submit self-assessments every two years
People: RBNZ names new assistant governor
NZ chief economist to step down; Vanuatu governor gets new term; Swift CEO to depart; Don Robert to step down from Bank of England Court
BoE revamps expenses rules after criticism from MPs
MP says some officials’ expenses claims are “staggeringly high”
Book notes: Macroprudential policy and practice, edited by Paul Mizen, Margarita Rubio and Philip Turner
An important overview of the current state of thinking about macro-prudential policy, but uncertainties remain about the current allocation of financial stability responsibilities
BoE paper outlines DSGE model of financial and real frictions
“Channels of effect” run between financial markets and labour markets, authors find
Central banks turn to visual communication in 2018
More than 30 central banks started YouTube channels over the past 12 months, according to Central Banking Directory 2019; Bank Indonesia retains Twitter titles
BoE issues warning over global leveraged loan market
Scale, growth and lending standards similar to pre-crisis subprime lending, BoE reports
Bank of England official urges buy-side firms to adopt global FX code
BoE markets director says uptake from the buy side has been slower than that of banks
Communication of monetary policy took back seat in financial crisis, researchers find
ECB press conferences transmitted non-monetary information in 65% of cases from 1990 to 2017, researchers find
BoE held back on Brexit commentary for fear of influencing negotiations
UK central bank planned to publish analysis after the country left the EU in 2019
Carney warns on ‘uncomfortable’ Brexit compromise
Governor fears some Brexit outcomes could restrict the BoE’s regulatory options; defends no-deal Brexit analysis
Bank of England to overhaul consumer interest rate statistics
Changes are designed to ensure the statistics reflect consumers’ experiences “as closely as possible”
UK banks’ holdings of leveraged loans ‘very small’, BoE says
Global leveraged loan market growing rapidly but lending standards falling, says Bank of England
No-deal Brexit could hit UK harder than global financial crisis, BoE says
Latest analysis from the UK central bank says growth could plummet 8% in the event of a no deal
Stress tests show major UK banks should withstand ‘disorderly Brexit’ – BoE
All large UK banks surpass risk-weighted capital and leverage hurdle rates