United Kingdom
FCA urges UK banks to postpone branch closures
Closures during pandemic could have “significant consequences” for consumers, FCA warns
Central clearing proved resilient in ‘dash for cash’ – BoE’s Segal-Knowles
Challenge now is to “sustain and strengthen” the system, says executive director
BoE paper explores macroeconomic impact of macro-pru
Authors build DSGE model featuring “detailed banking sector” and sticky interest rates
BoE scolded for carbon-heavy investments
Parliamentary committee says current bond buying undermines “diplomatic leadership” on climate change
BoE adjusts stress-testing framework
Tests this year will be based on 2020’s reverse stress test, as banks face “ongoing operational challenges”
People: Philippines governor recovering after medical procedure
Benjamin Diokno steps back from duties temporarily, plus appointments in UK, Singapore and more
FCA clamps down on consumer protection breaches
Nearly 10% of firms see application for consumer investments blocked, data reveals
FCA court victory gives clarity to SMEs over Covid disruption
Court ruling will see a larger number of businesses receive payouts from their insurers
Debt-service ratio limits have greatest welfare benefit – BoE research
Authors find macro-prudential tools can also boost the transmission of monetary policy
BoE must improve understanding of QE – report
Lack of understanding has prevented BoE’s ability to build public trust in new policy tool, report says
BoE’s Tenreyro says negative rates likely to work in UK
Looser monetary policy might help limit “scarring” to the economy, says MPC member
Some firms need to provide ‘better’ information to BoE – David Bailey
Executive director says BoE must have sufficient influence over supervisory outcomes post-Brexit
Terms of trade shocks not symmetric – BoE paper
Developing countries particularly vulnerable to export shocks, study finds
People: Rolle gets second governor term at Central Bank of Bahamas
Bahamas governor get second five-year term; new director-general for information systems appointed at ECB; Central Bank of Namibia recruits banking operations head, and more
Central banks must become ‘market-makers of last resort’ – BoE’s Hauser
Measures used in Covid-19 crisis are insufficient for the long term, BoE official says
Pandemic has raised risks for smaller UK financial firms – FCA
Over a fifth of firms responding to survey are at heightened risk of failure, UK regulator says
BoE officials welcome stronger post-Brexit regulatory powers
Andrew Bailey says UK must not become a “rule-taker” on financial services
BoE’s Bailey explores future of balance sheet policy
Question of whether QE is “state contingent” could impact how it is deployed through the cycle
FCA undergoes reshuffle of senior managers
Regulator establishes new consumers and competition directorate
UK’s FCA introduces climate disclosure rule
Nearly 500 firms will have to meet ‘comply or explain’ rule on TCFD recommendations
Covid-19 likely harms productivity – BoE paper
Private sector could lose 5% of its productivity in Q4 this year, authors estimate
BoE’s inflation target may hamper response to no-deal Brexit – IMF
Report urges BoE to bolster market communication in the event no deal is reached
BoE’s MPC says UK outlook is ‘unusually uncertain’
Outcome of Brexit talks and evolution of pandemic leave future cloudy, BoE says
FCA fails to register crypto asset firms by cut-off
Regulator establishes temporary registration regime for firms which submitted an application on time