Bank of England (BoE)
EU exit vote throws up financial stability risks
UK plunged into uncertainty and markets hit hard, with bank stocks some of the worst affected, but more serious problems seem to have been avoided for now
Central banks offer reassurance as UK votes to leave EU
Mark Carney stresses UK authorities are “well prepared” for the outcome, as central banks across globe pledge liquidity if needed; narrow vote to leave sees David Cameron announce resignation
BoE launches fintech collaboration
Bank of England is working with fintech firms on innovations to support central banking, including its own distributed ledger; non-bank payment providers to gain direct access to RTGS system
BoE seen facing tough task in event of Brexit
Economists see Bank of England faced with task of stabilising financial markets while currency plummets and economy slows, making policy decisions tough; Carney hits back at critics
Bank of England banknote first in the world to feature new foil technology
BoE launches new fiver with ‘Kinegram Colors’ technology taking centre stage; new note to enter circulation in September
Structural funding ratios could have helped detect failing banks – BoE working paper
Bank of England working paper reveals structural funding ratios could have helped detect which banks were likely to fail in the 2008 crisis; wholesale funding structures most prone to failure
Kohn encourages Chinese efforts on financial stability
Don Kohn, an external member of the Bank of England's FPC, welcomes Chinese work on a framework for macro-prudential regulation, and offers his insight on counterparts in the UK and US
BoE paper explores impact of climate-change policies on central bank objectives
Unexpected tightening of carbon-emission policy could generate "significant" balance-sheet losses, paper says; transparency is key to maintaining financial stability
Carney and MPC members defend independence
Mark Carney warns vote to leave EU could result in technical recession, defends decisions to comment on referendum; Broadbent, Vlieghe and Weale assert independence
BoE economists map current account dangers across OECD
Treating the current account as equivalent to the balance of trade could blind economists to the risks posed by large deficits, say Kristin Forbes, Ida Hjortsoe and Tsvetelina Nenova
Haldane admits BoE communications can be ‘impenetrable'
Chief economist notes ever-longer publications have not tallied with better understanding among the UK public, suggesting the message needs to be clearer and simpler
To play the counterfeiter
The Reproduction Research Centre in Copenhagen helps central banks to counterfeit colour-shifting technology and machine-readable codes on banknotes in a bid to reduce fraud
BoE’s Weale: t-distribution may outperform normal
Representing monetary policy committee’s judgements using the t-distribution implies GDP outcomes are skewed to the downside and inflation to the upside
IMF issues stark warning to UK on EU exit
Bank of England could find itself battling market dislocation and “substantial” economic slowdown if UK votes to leave EU, IMF warns; Christine Lagarde dismisses accusations of political meddling
Carney dismisses independence fears after EU referendum comments
Governor says BoE has responsibility to comment on short-term impact of EU referendum; fog of uncertainty makes policy-making unusually difficult, as MPC holds rate again
BoE paper: CCP legal framework may need work
Process of handling default is legally robust in many cases, but has room for improvement in others, authors say
BoE paper evaluates macro-prudential roles of bank capital regulation and monetary policy
Authors find counter-cyclical regulation is more effective than monetary policy in promoting stability in the wake of a credit shock
New UK law confirms Bank of England governance reforms
Bank of England and Financial Services Bill receives royal assent, cutting number of MPC meetings to eight a year; National Audit Office role expanded, but not into policy
Cunliffe warns of tough transition to new resolution regime
Going back to world of small, less complex banks is not how to solve ‘too big to fail’ problem, BoE deputy suggests, instead favouring a ‘multi-pronged’ regulatory approach
BoE’s Cunliffe notes ‘gap’ between bank return and investor expectation
Investors should be prepared for lower returns in the coming year, Bank of England deputy says; risks to the housing market show signs of reducing but FPC poised to act if necessary
BoE paper explores impact of prudential measures abroad on UK bank lending
No “significant” spillovers to bank lending following prudential measures, authors find, while composition of lending can change when domestic actions are taken
BoE paper seeks unified global approach to NPLs
A multidisciplinary approach to legal, accounting, statistical, economic and strategic elements of loan loss provisioning and NPLs
JMW Turner to appear on new £20 banknote
Painter chosen from 590 British visual artists to adorn new polymer £20 note, after lengthy selection process; note scheduled to enter circulation by 2020
Carney speaks of ‘new’ financial system to support sustainable finance
Bank of England governor launches FAIR initiative; FSB members developing more ‘effective’ macro-prudential policies to support system