Bank of England (BoE)
BoE economists mine tweets for early-warning indicator
Central bank put its work on ‘text mining’ and big data to work during Scottish independence referendum in an attempt to create an early-warning indicator for bank runs
UK regulators spare Co-op Bank £120m fine
Bank of England and FCA ‘censure’ the troubled bank for multiple failures including not being open with regulators, but drop a £120 million fine on financial stability grounds
Bank of England faces conundrum from contradictory data
Economy appears to be giving contradictory signals as slack shrinks and wages rise but employment disappoints and inflation stays low; MPC votes for hold
BoE’s McCafferty breaks ranks in first new-style monetary policy meeting
BoE holds first monetary policy meeting under new setup and launches new format for policy communications, including inflation report redesign
People: Board changes at PRA; Rodriguez to lead Fed’s ‘faster payments’
Four new board directors to start at PRA, Fed gives Sean Rodriguez lead role for ‘faster payments’, CNB names new head of communications and more.
BoE unveils plans for enhanced data gathering
Central bank hopes improved data gathering will allow it to produce more accurate interest rate benchmarks, and inform financial and monetary policy work
BoE’s Gracie describes unique dangers of cyber attack
Unprepared firms could find themselves up against attacks by fraudsters or unscrupulous states, and the damage could be difficult to detect
BoE’s Cunliffe warns of risks to loosening ‘regulatory straitjacket’
Regulators may need to ‘fine-tune’ the complex web of rules established since the crisis, but they should not be fooled into thinking the key to growth lies in light-touch regulation
Gertjan Vlieghe to replace Miles on BoE monetary policy committee
Economist used to be assistant to Mervyn King and is now partner at an asset manager; previous research has focused on conducting monetary policy in the presence of imperfect credit markets
Guy Debelle to lead BIS’s work on global forex code
New working group under the auspices of the BIS’s Markets Committee aims to create a global code of conduct for the foreign exchange market, with RBA assistant governor as chair
BoE’s Gracie praises TLAC and MREL standards
Executive director says loss-absorbing capacity provided by the two standards will help regulators co-operate across borders and ensure core functions can continue to operate
UK’s Chaps and Crest to close later from ‘summer 2016’
Bank of England says the settlement day for the UK’s high-value payment system and securities settlement system will be extended by an hour and forty minutes from summer 2016
BoE MPC moving towards rate hike, minutes hint
MPC voted unanimously for a rate hold, but ‘a number of members’ believe risks to inflation are becoming ‘skewed to the upside’; appreciation of sterling and global shocks could still delay hike
UK government launches plan to improve BoE governance
Bank of England Bill proposes changes to committee structure, adjustments to the Court, establishing new roles and axing old ones, and audits to assess value for money
Carney sees BoE inching towards rate hike
BoE governor says debate over rate hike will ‘come into sharper relief’ around turn of the year, but reiterates upward path will be shallow and any hike is data-dependent
BoE’s Miles cautions against use of policy rate for financial stability ends
Use of monetary policy to tackle financial stability goals is less efficient than setting higher capital requirements, outgoing MPC member says
UK’s Treasury Committee raises concerns over FPC accountability
MPs question whether Financial Policy Committee discussions are adequately represented by meeting records; wide-ranging discussion takes in liquidity issues, 'too big to fail' and stress testing
BoE officials say UK may be starting to throw off productivity woes
There are signs the UK may be emerging from the ‘long, dark tunnel’ of weak productivity, officials tell the Treasury Committee; government’s minimum wage plans may be a positive factor
Reform of Sterling Monetary Framework is ‘ongoing’, says BoE’s Salmon
Executive director for markets highlights potential for sharia-compliant facilities to be included in framework, among host of possible future developments
Ex-BoE deputy to review UK statistics in effort to improve productivity measure
Charles Bean will lead an independent review on the ‘quality, delivery and governance’ of economic statistics produced in the UK, as government grapples with productivity puzzle
BoE launches year-long artist collaboration
Martin John Callanan to work with BoE for a year to produce works reflecting central banking, in what Mark Carney hopes will be a creative way of communicating
BoE FPC wary of buy-to-let risks
Financial policy committee asks bank staff to identify channels through which the market threatens stability; UK government caps tax relief on buy-to-let property
BoE’s Weale outlines idea of one man, one hundred votes
Giving each MPC member 100 votes to cast would allow them to indicate much more nuanced positions and could make for better policy, Martin Weale says
BoE turns attention to contagion from emerging markets
UK banks’ exposure to emerging markets is a cause for concern and will be integrated into 2015 stress test scenario, BoE says in financial stability report