Bank of England (BoE)
BoE’s ‘difficult decision’ to stick with animal fat substrate
UK central bank rejects the palm oil alternative, despite successful trials; the decision is based on cost and sustainability concerns
Where have all the women gone?
The number of women working at central banks has increased substantially, but a glass ceiling appears to remain for those reaching for senior management positions
People: IMF official appointed Bank of Ghana deputy; new communications chief for BoE
Former IMF official appointed first deputy at Bank of Ghana; BoE forecasting chief moves into new communications role; and more
BoE to appoint ‘conflicts officer’ following review
Compliance review revealed there was a lack of understanding around reporting conflicts of interest; under new framework senior officials will have to report annually
The changing composition of central bank balance sheets
Quantitative easing may have been necessary, but it has created worrying distortions and has probably discouraged structural change, while deflecting attention away from ever-greater levels of debt leverage
Moody’s upgrades UK banking sector on improved capital positions
Banks' funding costs have declined and insurance against bank defaults is at its lowest since the financial crisis, while capital buffers have increased
Brexit drives a wedge between BoE and markets
Market expectations of future UK interest rates appear out of line with views expressed by the Bank of England’s Monetary Policy Committee. It comes at a time when Brexit ‘news’ often trumps economic data
BoE: market pricing implies two rate rises in next three years
Markets project first rate rise in Q3 2018, but committee says tightening may need to come sooner; MPC sees mixed picture for labour market
UK economy vulnerable to consumption-led recession
Fragile consumer spending could take a toll on growth, former BoE officials warn, leaving the central bank with a tough job ahead
BoE workers walk out over continuing pay dispute
Workers launch first of three days of strike action amid complaint over fairness of pay awards, with possibility of further escalation
FCA set to replace Libor by 2022
The interbank lending rate was manipulated by major banks during the financial crisis to give a healthier picture of their credit quality
Bank of England appoints new COO and deputy governor
Central bank announces replacement for Charlotte Hogg following her resignation in March; new deputy also set to take over from Minouche Shafik
BoE’s Brazier warns lenders of ‘spiral of complacency’
UK lenders may be starting to let standards slip as memories of the crisis fade, Alex Brazier says
BoE economists issue ‘call to arms’ for macro-prudential research
Researchers outline a simple framework to help understand the macro-prudential “balancing act”, but say there is a long way to go in developing a definitive model
BoE paper warns escape from secular stagnation may ‘beggar thy self’
Authors outline an unappealing situation where the only escape comes from currency depreciation, but may nevertheless end up harming domestic welfare
BoE opens RTGS to non-bank payment service providers
Non-banks gain direct access to settlement accounts at the Bank of England for the first time, though they will not be able to participate in monetary operations
Bank of England unveils Jane Austen £10
New banknote will be the first to include tactile features for the visually impaired; Carney says timeline for the new £20 remains on track despite polymer controversy
Regulations have net benefit despite cost to dealers – BoE paper
Working paper finds leverage requirements have raised costs for dealers in normal times, with the impact larger than earlier studies imply
BoE’s Broadbent: globalisation has been largely a good thing
Bank of England deputy says flexible labour market has helped dull the pain of adjustment to trade shocks, while lower prices have most benefited the poorest groups
Armenia dropping high-denomination note in new hybrid series
The central bank says the note worth $200 will not be included in the new series; submissions for design proposals for the new series are now being accepted
UK elects first woman to chair Treasury Select Committee
Nicky Morgan to take over from influential chair Andrew Tyrie, who stepped down this year; former secretary to treasury seen as supporter of “soft” Brexit
BoE leads foray into non-bank stress simulations
Paper sets out agent-based approach to modelling feedback loop that could create sharp price moves, even where funds and dealers are individually safe
BoE distributed ledger project delivers cross-border payments success
Bank of England completes transactions across two RTGS networks using Ripple’s DLT solution; issues remain on how tech could be adapted for wholesale payments
BoE needs to ‘raise its game’ on cyber threats – BoE’s Habgood
BoE’s Habgood praises institution’s cyber security but says more can be done; new multi-level defence designed to ensure critical bank systems are not breached