United Kingdom
BoE launches banknote security app
Bank of England launches an interactive application for use on mobile devices that helps the public identify security features on its banknotes
Permanent drop in UK risk-free rate suggests lower interest rates the 'new normal'
Bank of England's David Miles says lower returns on safe assets prompted by changed risk perceptions will keep bank's benchmark rate below historic average
Banks could be forced to leave UK if home regulators are found wanting
Draft rules published today by the UK banking supervisor put pressure on non-EEA countries to up supervision of banks that want to do business in London
UK Supreme Court throws out $6.5m fraud case against Central Bank of Nigeria
The UK Supreme Court today accepted an appeal from the Nigerian central bank, which was accused of facilitating a $6.5m fraud in 1986
UK government rules out 'sterling zone' with independent Scotland
Scotland will face significant challenges in setting up its own currency, establishing a currency board or joining the euro as an alternative to sterling
One in five in UK 'aware of forward guidance'
Policy may indirectly affect households' interest rate expectations and spending through media reports and effects on business spending, according to report
Bank of England says BBA could co-ordinate response to banking cyber attacks
Sweeping exercise aimed at preparing UK banks against attacks against financial infrastructure by ‘hostile nation state' also sees some firms struggle with new dual regulatory structure
Bank of England to lay off up to 100 staff
The central bank is looking to save £18 million over the next three years by making operations leaner; union representatives ‘strongly' oppose resulting redundancies
Carney lectures Scots on dangers of monetary union without fiscal union
Bank of England governor tells Edinburgh audience that successful currency union would need banking union, and would risk moral hazard without fiscal union
BoE prudential regulator wrestles with early warning indicators calibration
Calibration for general insurers and with-profits funds frustrates regulator's progress
BoE's McCafferty says 'lagging' investment recovery ready to start
Worries over a lack in business investment growth are misplaced, according to MPC member Ian McCafferty, who says it is normal for it to lag growth in other sectors
BoE's Broadbent examines UK economic growth conundrum
MPC external member says real wages have fallen due to specific economic 'headwinds', which are now beginning to abate; productivity is also on the rise, he says
Central banks in Israel, UK close in on new deputies
Bank of Israel governor Karnit Flug nominates academic Nadine Baudot-Trajtenberg as her deputy; UK Treasury begins process of replacing Charles Bean at the Bank of England
UK banks win tax exemption for client clearing
UK tax authorities exclude client collateral received as a result of clearing activities from bank levy, after complaints it would act as a disincentive to clearing
Carney defends forward guidance as UK unemployment falls closer to BoE threshold
Bank of England governor says reaching 7% unemployment threshold does not presuppose monetary tightening, but rather incorporates a deliberate buffer before full employment is reached
Carney backs new leverage ratio powers
Bank of England announces review of its powers over bank leverage ratios; Mark Carney says that FPC control over the tool is ‘necessary to properly implement a robust capital framework’
Israeli annual report for bank customers could be first step to reduce transparency 'knowledge gap'
Bank of Israel supervisor pushes for banks to provide customers with tailored yearly reports; UK consultancy says future lies in 'single online portal' for all financial products
Bank of England points to growing concern over low rates
Market participants say the risks surrounding low interest rates are now the third biggest cause for concern in the UK financial system, behind sovereign risk and the prospect of an economic downturn
UK data boost could spell early end to BoE forward guidance
Inflation report out today predicts consumer price inflation will reach 2% target sooner than predicted after sharp drop in October; revised forecast on unemployment may undermine forward guidance
HKMA’s Yue calls for offshore RMB co-operation
Deputy chief executive Eddie Yue says Hong Kong and the United Kingdom need not compete for a slice of the global offshore renminbi market – they can ‘grow the pie together’
Bank of England waging payment system war on three fronts
Chief cashier Chris Salmon says the central bank must contend with issues relating to cyber security, user access and new regulation within the UK payments infrastructure
BoE creates new role in response to cyber crime threats
Chief information security officer will oversee the Bank of England’s IT security defences; UK banks to be tested on their ability to withstand online attacks
Bailey sets resolution criteria for foreign banks' UK branches
Bank of England’s Andrew Bailey says foreign banks will not be able to operate branches in the UK if their home regulator’s resolution regime is not up to scratch
Barnier says UK ‘on board' with EU banking legislation
French EU commissioner once dubbed ‘the most dangerous man in Europe' by the UK press says winning British agreement over banking sector reform is a ‘point of credibility'