United Kingdom
BoE paper explores collateral’s impact on labour market
Collateral value affects hiring decisions by small businesses, authors find
BoE paper measures ‘market-implied’ systemic risk
“Shadow capital adequacy” shows how default risk impacts capital assessments
People: Bank of Canada appoints new deputy
Bank of Canada promotes from within; BIS appoints regional chair; FCA names new executive
Rate round-up: Fed triggers further global easing
Fed cut prompts flurry of action, with many central banks hinting at a more dovish stance
Timetable for BoE governor appointment thrown into doubt
Treasury Committee pushes finance minister to confirm plans or set out new timetable “immediately”
UK cash use squeezed by rise of fintech and ATM fee changes
Accounts with fintech firms and open banking proving increasingly popular, report finds
BoE paper: ‘tails’ matter when studying global financial cycle
Authors look to the tails of the distribution to understand exchange rate risk in the global cycle
BIS: forex volumes rise to $6.6 trillion as London trading soars
While the UK capital reinforces its prominence in forex markets, trading in Asian currencies heats up
FCA chief calls for EU to extend Brexit clearing exemption
Bailey also urges EU to grant equivalence determinations for UK trading venues
BoE paper looks at how to halt ‘cascade’ of settlement fails
“Buy-in” process could help to avoid system-wide “gridlock”, but design is challenging
BoE’s Hauser urges firms to adapt to forex market fragmentation
Less sophisticated firms are paying much higher spreads, executive director says
People: Colombia appoints new policy board member
Roberto Steiner joins the Central Bank of Colombia; UK FCA appoints chief economist; new PSR head named
‘Non-salient fees’ matter for mortgage pricing – BoE paper
Many borrowers appear to be less sensitive to fees than to interest rates, and firms exploit this
UK regulator seeks ways to ‘open up’ payments data
PSR says “synthetic data” could be used in trials to protect confidentiality
Shared supervision can help avoid ‘capture’ – BoE paper
Dividing tasks across agencies can lead to better outcomes by avoiding “supervisory capture”
UK lawmakers call for transparency on BoE governor appointment
MPs call on finance minister to make shortlist public as survey highlights trust deficit
PRA’s Mills on future fintech challenges for supervision
The PRA's chief operating officer Clair Mills discusses tensions caused by disruptive innovation, major uses of AI, the role of big tech and the future of supervision
30 years of forecasting: have central banks learned anything?
Forecasting models are constantly being upgraded, but forecast errors are still persistent. What more can central banks do?
BoE paper models exchange rates with private money creation
Uncovered interest parity does a poor job of explaining exchange rates on its own, authors say
BoE forced to reveal latest analysis of no-deal Brexit
Carney writes that preparations have helped reduce likely impact of “worst-case” no-deal
Suptech focus – AI to the rescue?
With the increased use of artificial intelligence in financial services, Vizor Software explains why it is crucial that regulators increase their knowledge of the potential risks while simultaneously raising internal AI skill levels and usage.
Central banks ‘must engage’ with emerging technology – BoE’s Mills
PRA chief operating officer says BoE is planning new regtech projects
Brexit may have cost the UK 5% of productivity – BoE paper
Study draws on newly developed survey of decision-makers at UK firms
BoE policy-makers face fallout from political chaos
November policy decision could be unveiled on an election day; new analysis by MPC members suggests worst economic impact yet to come