United Kingdom
Bailey urges early intervention on stablecoin risks
BoE governor says multi-currency stablecoins do not appear to be viable payment systems at present
Broadbent dismisses concerns over monetary financing
High debt and aggressive easing do not equate to monetary financing, says Bank of England deputy
BoE open to heterodox tools in new research agenda
Traditional tools of economic analysis “cannot always answer every question”, says Andrew Bailey
Don’t wait too long to normalise balance sheets – Bailey
Central banks need to unwind balance sheets when tightening policy, BoE governor warns
Carney to lead asset manager’s climate change strategy
Former BoE governor joins Canadian firm Brookfield and will continue in UN climate role
Experiment finds bonus caps can reduce risk-taking
BoE paper says bonus caps can work, in contrast to earlier work by the central bank and comments by senior officials
Weak banks undermined first round of QE – BoE paper
Undercapitalised banks took defensive measures rather than boosting lending, research finds
BoE paper outlines ‘capital flows-at-risk’ framework
Methodology allows researchers to explore full distribution of “push” and “pull” effects on capital flows
BoE runs ‘reverse stress test’ to prepare for renewed Covid crisis
Banks may have to take drastic “defensive actions” if UK suffers another major shock, BoE says
BoE says negative rates ‘in toolbox’ and forecasts slow recovery
First “proper” forecast since Covid-19 outbreak gives little hope of a V-shaped recovery
BoE awards Accenture RTGS overhaul contract
Consultancy firm wins contract worth up to £150 million for payments system upgrade
People: BoE governor appoints first female private secretary
St Louis Fed appoints new COO; new appointments at Kazakhstan’s sovereign fund and central bank; and more
Covid-19 likely to affect return of paper £20 banknote – BoE
Central bank reports consumers are likely to hold onto old banknotes until they cease to be legal tender
FCA presents new design for financial services register
UK regulator says website aims to boost consumer protection and make key data easier to find
FCA launches new digital sandbox
Project will give firms access to “high-quality datasets” to test new technology
Tenreyro sheds light on BoE’s ‘epi-macro’ modelling
Staff have conducted several virus simulations, but uncertainty remains high
Haldane and co-authors conclude QE has made UK happier
Authors use survey data to track QE’s impact on household balance sheets
Common asset holdings important for stress testing – BoE paper
When banks and non-banks hold the same assets, losses can be magnified, authors warn
UK’s ‘Big Four’ told to separate audit practices
Major shake-up of accounting firms comes in wake of the Wirecard scandal
London court blocks Venezuelan government from using gold
Lawyers for Maduro regime say they will appeal over access to $1 billion store
Researchers test forward-looking uncertainty measures
BoE paper says the measures are likely to be useful for policy-making in the face of sudden shocks
BoE issues deadline for firms’ climate risk plans
PRA says firms’ climate risk disclosures and scenario planning need major improvements
UK firms must prepare for Brexit risks – FCA
EU and UK have yet to agree on equivalence, senior official warns
BoE partners with QA Media to benchmark software investments
Central bank aims to improve own software development processes, and those in the banking sector