UK Treasury
UK government appoints team to choose new Libor administrator
Committee to be led by Baroness Hogg and will include Martin Wheatley of the FCA and Paul Fisher of the Bank of England; recommendations expected later this year
UK statistics office to keep 'unsuitable' inflation measure
The UK Office for National Statistics will not change how it calculates RPI inflation – but will initiate an alternative index in parallel
Robert Pringle’s Viewpoint: Can banking recover its lost reputation?
The UK’s Parliamentary Commission on Banking Standards issued a thoughtful paper in December offering clarity on some of the flaws present in current banking reform
King grilled over £37bn grabbed by UK Treasury
Treasury Committee takes Mervyn King to task over 'profits' from quantitative easing claimed by UK Treasury; BoE officials insist bank’s independence is not under threat
BBA resigned to likely loss of Libor-setting role
British Bankers’ Association says it will comply with Wheatley review if decision taken to change Libor-setting responsibilities; review’s conclusions to be presented on September 28
UK Funding for Lending Scheme opens
Bank of England and UK Treasury’s Funding for Lending Scheme window opens to UK banks and building societies; institutions have 18 months to borrow cheaply under the arrangement
UK Treasury proposes payments regulation overhaul
Government sets out options for changes to payments regulation in UK; favours creation of new ‘Payments Strategy Board’ to monitor industry and make recommendations
IMF urges UK to take further measures to promote growth
Staff report on UK Article IV Consultation urges policy-makers to act in order to boost ‘flat’ economy; says fiscal tightening may need to be eased next year
McCafferty to replace Posen on BoE’s Monetary Policy Committee
UK Treasury names CBI economics adviser, Ian McCafferty, to replace Adam Posen on the Bank of England’s monetary policy board
King laments growing problems in global economy
BoE governor says worsening situation in emerging economies, slowing US growth and continued eurozone trouble leave him “pessimistic”; Treasury Committee member confronts MPC over decision-making
Czech central bank concerned over Esma's power
National supervisors should be responsible for their domestic institutions, says Czech National Bank
Risk.net poll: CCPs should have access to central bank liquidity
The majority of respondents to an online poll support central bank liquidity access for CCPs, but critics argue this would be likely to lead to the break-up of multi-currency clearers
UK lawmakers call for rethink of banking carve-up
UK Treasury Select Committee requests Independent Commission on Banking to re-evaluate option to 'separate' retail and investment banking activities
UK FSA and Treasury say covered bondholders should escape bail-ins
British authorities offer six recommendations for regulatory change; signal covered bondholders will not be hit by bail-ins
UK Treasury fleshes out new regulatory set-up
UK Treasury details powers of the new macroprudential body; rebrands Consumer Protection and Markets Authority to reflect underlying purpose
Cut Bank’s vote on macroprudential body, say lawmakers
Influential parliamentary committee calls for Bank of England executive directors’ votes to be transferred to external members, citing amount of power vested in central bank
Britain raises bank levy
UK government publishes final bank tax law that will raise the levy on liabilities higher than initial proposals set out in June
WikiLeak sparks King quit calls from Blanchflower
Former Monetary Policy Committee member David Blanchflower says Bank of England governor Mervyn King must resign over lack of political impartiality after new leak on whistleblower website
Fuddy-duddyism without money
Samuel Brittan enjoys Forrest Capie’s epic history of the Bank of England in the third quarter of the 20th century.
Ex-Bank’s Lomax attacks government over cutbacks
Former MPC member Rachel Lomax lambasts climate of fear promulgated by Britain’s coalition government in order to pave the way for fiscal retrenchment
Britain unveils sweeping, cross-border bank levy
UK government publishes draft bank tax law which will affect domestic banks operating overseas and foreign bank operations in Britain; proposal highlights international disunity
Fisher: Bank special liquidity scheme will not be extended
Bank of England executive director of markets Paul Fisher says government bond swap facility will expire in 2012
UK Treasury tables insolvency plans for investment banks
Treasury says Lehman Brothers’ failure showed strong case for introducing special administration regime for investment banks
Welcome to Twin Peaks
The decision by the British government to adopt the Twin Peaks model of financial regulation represents a significant turnaround in the Bank of England’s political fortunes, writes Michael Taylor.