United Kingdom
Carney extols value of clarity of thought and communication
Bank of England governor delivers speech on virtues of a good leader
Algo trading harmed market during Swiss franc crash – paper
Algorithmic traders tended to “consume liquidity and reinforce the price disruption”
FCA fails to publish contentious report on RBS
Regulator opts to supply parliamentary committee with a confidential version of the report, but lawmakers may publish it anyway
EU should create ‘virtual’ post-Brexit replacement for City of London – Bundesbank official
Future financial centres may not need “physical proximity”, Wuermeling says
FCA to examine feasibility of global regulatory sandbox
UK regulator recommends establishing a “college” of regulators to strengthen co-operation across borders; interested parties have until March to comment
Brexit ‘surprises’ could delay rate hikes, IMF says
If negotiations affect wage growth or “depress demand”, the BoE could make monetary policy more expansionary, staff say
UK inflation refuses to budge from 3%
Despite a decline in oil price pressure, UK inflation remains above target; latest figures increase the likelihood of the Bank of England raising rates in May
BoE’s Cunliffe sees liquidity risk in rise of investment funds
Investors have poured money into less liquid instruments at a time when market liquidity has been falling, warns the BoE deputy governor
UK regulators unveil rules for algo trading
PRA and FCA outline their approaches to supervising the ultra-fast trading methods
BoE opens door to May rate hike
MPC votes to keep current policy stance, but notes more positive inflation outlook; policy may now need to be tightened “by a somewhat greater degree”
Banks running out of time to make post-Brexit eurozone applications
Banks looking to relocate should apply “by the end of the second quarter” – ECB supervisor Lautenschläger
People: FCA creates Brexit role; new Uzbek deputy
UK FCA creates new senior role to oversee Brexit work; Adham Islamov joins Central Bank of Uzbekistan; Swedish and French regulators join Esma board
BoE’s Brazier flags concerns about ‘stretched’ credit markets
BoE is simulating ‘liquidity mismatch’ in bond markets to ensure financial stability, says executive director; central bank has a ‘duty’ to adapt regulation
Potential ATM closures will be PSR’s first ‘major test’ – Morgan
Treasury select committee chair says Payment System Regulator should not hesitate to intervene should closures threaten financial stability; market calls for independent review
Carney rejects accusations of ‘cognitive bias’ at BoE
Parliamentary committee members say BoE relied on inaccurate forecasts before Brexit, affecting policy decisions
Brexit could spell larger mandate for Bank of England – report
House of Lords report asks government to consider adding competitiveness to mandates of FCA and PRA
BoE suffers transaction-processing glitch
“Regular” IT update led to failed wholesale transactions, although payment systems operated normally, the central bank says
Central bank communications risk circularity, says BIS paper
Policy communications influence market prices and market prices influence policy, warn Stephen Morris and Hyun Song Shin
BoE denies involvement with controversial charity auction
Central bank says it was unaware tea with Mark Carney was being auctioned, after FT investigation raises allegations of sexual harassment
Liberalising services trade could tackle imbalances – BoE paper
Finding ways of reducing barriers to services trade could substantially cut imbalances
Payments and market infrastructure provider of the year: Perago
The software company is helping central banks around the world implement reliable and highly adaptable RTGS and retail payments systems
Central Banking Awards: BoE a leader in fintech
Awards go to the Bank of England, Vizor, Lanqart and Openlink for their innovative work
Initiative of the year: Bank of England’s FinTech Accelerator
The UK central bank has embraced fintech service providers in a controlled manner to bolster its cyber-security and payments capabilities
BoE commits to improving liquidity facilities
Report says central bank could do more to ensure smooth operations