United Kingdom
BoE paper calls for international standards on 'broader co-ordination'
Credit growth in the rest of the world has a large positive effect on the probability of domestic banking crises
BoE’s Cunliffe sheds light on investment issues
One in five firms report constraints on credit access reduced investment, BoE deputy says, while restrictions on internal fund usage have worsened the problem
Consumption shows asymmetric response to shocks – BoE paper
Households appear to respond more strongly to temporary negative shocks than positive ones, and effects are different for borrowers and savers
BoE signals extra slack as it revises growth outlook upwards
Mark Carney indicates the MPC is willing to keep rates on hold, although risks may emerge as details become clear about the UK’s EU departure; UK government publishes a white paper on Brexit
FCA's McDermott joins StanChart
Former FCA acting chief executive starts her new role in March
UK financial regulators finalise plans to strengthen enforcement and transparency
PRA and FCA publish measures that will keep financial firms better informed about investigations; new framework will “command public confidence”
Brexit pain may be coming – panel
Former Bank of England officials warn of fading consumer spending and investment
‘Flash’ currency moves will continue to surprise markets – BoE’s Salmon
Bank of England executive director says there is “growing potential” for flash events to occur in core markets, despite markets now being able to identify risks
Monitoring the labour market is key – BoE’s Saunders
Bank of England’s MPC member says unemployment should stay below the equilibrium 5% estimate in 2017 – but, should “warning signs appear”, changes to forecasts could be made
UK competition authority raises concern on VocaLink sale
Sale of payments infrastructure provider to MasterCard could harm competition on ATMs, but unlikely to be a problem for wider payment systems, CMA finds
BoE article sees benefits to agent-based modelling
“Bottom-up” approach is complementary to models that are already widely used; the Bank of England has created new models for both housing and corporate bond markets
Non-linear shocks create asymmetric policy impacts – paper
Bank of England working paper shows a shock to mortgage spreads has more of an impact on the real economy during periods of recession, with implications for policy
FCA urges progress on equivalency for derivatives trading
US and EU regulators should base recognition decisions on outcomes, not technical details
UK inflation expectations leap in fourth quarter
Brexit shock appears to have driven increase in inflation expectations; satisfaction with Bank of England remains high, but looks likely to fall as inflation rises
BoE’s Salmon seeks to fix deadline for delayed Libor replacement
Chris Salmon sets three-month target to finalise transition plan and reach decision on design for risk-free rate
UK’s PSR announces shake-up in provision of payment services
UK’s payment system regulator to open door to competition in national payment infrastructure; regulator sees benefits to Mastercard’s planned takeover of Vocalink
‘Significant’ housing market risks in eight EU states – ESRB
UK outlook “highly uncertain”, while regulatory mandate in Sweden is “not clear”
BoE to adjust deposit protection limit again
Limits have seesawed in recent years, first due to the global financial crisis and more recently because of EU law
Central banks should sacrifice some independence – Harvard economists
A group including the UK’s Ed Balls says central banks are losing legitimacy; handing over some “political independence” could reverse the trend without damaging policy outcomes
Carney faces grilling from parliament in wake of tenure decision
Regardless of Brexit timetable, BoE governor will leave on June 30, 2019; he warns firms could trigger plans to leave London in late 2017 if Brexit deal proves unsatisfactory
Western ambassadors support independence of Ukrainian central bank as dispute continues
Diplomats line up behind Gontareva as the president’s attitude remains unclear
Bank of England’s COO gives update on ‘fintech accelerator’
Charlotte Hogg outlines the firms and projects the bank has been working with in order to better understand fintech; BoE is now accepting applications for the next round of projects
BoE sets final rules for bank loss-absorbency
Final rules for bail-inable debt adjusted for longer transition and lighter load on smaller banks
BoE’s Andrew Hauser says RTGS needs to move with the times
Executive director speaks on the risks and benefits of upgrading the UK’s core payments infrastructure; central bank is working on new technologies, including distributed ledgers