United Kingdom
Robert Pringle’s Viewpoint: Cameron’s high-risk European gamble
British Prime Minister David Cameron's high-stakes bid to renegotiate the UK’s role within the EU has rankled some officials in Europe. But both sides would lose from a UK withdrawal
UK monetary easing could be pointless, says HSBC
Top HSBC economist says lack of spare capacity in UK economy could make easing risky, with little upside; former MPC member Blanchflower takes 'almost exactly the opposite view'
BoE unveils action plan for macroprudential powers
UK Government proposals will enable the Bank of England’s financial policy committee to impose ‘sectoral capital requirements’ to tackle systemic threats early
UK statistics office to keep 'unsuitable' inflation measure
The UK Office for National Statistics will not change how it calculates RPI inflation – but will initiate an alternative index in parallel
BoE survey shows businesses credit increased ‘significantly’ in fourth quarter
Bank of England survey finds credit extended to households and the corporate sector increased in the last quarter of 2012
Robert Pringle’s Viewpoint: Can banking recover its lost reputation?
The UK’s Parliamentary Commission on Banking Standards issued a thoughtful paper in December offering clarity on some of the flaws present in current banking reform
BBA delays phase-out of some Libor rates after complaints
Less-used rates will be produced until May 2013
BoE’s Weale urges use of more nuanced economic models
Basing models on a single representative agent risks obscuring important results, says Bank of England’s Martin Weale; alternative is greater emphasis on behavioural economics
EU leaders thrash out ECB bank supervision deal
European finance ministers reach agreement that gives the ECB supervisory powers over the largest banks; EBA rules adjusted to balance voting powers of states outside supervisory mechanism
UK’s Wheatley outlines behavioural foundations of FCA approach
CEO-designate of UK’s Financial Conduct Authority says regulator’s new approach will centre on behavioural economics rather than treating consumers as fully rational
UK’s Wheatley talks tough on financial market intervention
Head of UK’s Financial Conduct Authority says he will act ‘early and decisively’ in cases of misconduct; fleshes out details of wholesale market and client asset regulations
New UK regulators may have some overlap, says FSA’s Nicoll
Director of conduct policy at UK’s FSA says there may be crossover between ‘twin peaks’ regulators; report suggests banking lobby can influence rule-making and industry complacent over costs
Inflation jump exposed in BoE report
Bank of England adjusts inflation expectations after an October rise in inflation that some commentators branded as 'embarrassing'
BoE’s Bailey preaches simple supervision
Bank of England executive director wants basic supervisory tools to support complex risk-based analysis
BoE’s Haldane debates banking reformation with Occupy
Bank of England’s Andrew Haldane discusses the banking system with social inequality activist group; urges bank reform rather than 'banker bashing'
Structure of banks must change as they grow, says BoE’s Haldane
The Bank of England’s Andrew Haldane discusses ways to address the ‘too-big-to-fail problem’; considers impact on banks’ economies of scale
US reform could slash $150bn payments bill, says Fed’s Pianalto
Cleveland Fed president Sandra Pianalto explains the Fed’s vision of how the US payments system will operate in a decade; says UK offers valuable lesson on speed
ECB’s Constâncio downplays impact of single supervisory mechanism
Vítor Constâncio says banking supervision will not be significantly altered when ECB starts new supervisory role; attempts to allay fears over internal conflicts and role of national supervisors
UK endorses Wheatley report to fix Libor
The UK Treasury has endorsed recommendations made by Martin Wheatley of the Financial Conduct Authority to fix Libor; will amend the UK’s Financial Services Bill
Further QE discussed in BoE minutes
UK central bank’s Monetary Policy Committee minutes show further quantitative easing debated even though members voted unanimously to keep asset purchasing at current level
Policy-makers debate how to restore trust in the financial system
Andrew Tyrie among speakers at BBA conference discussing how to develop greater trust in the financial system, ideas range from greater competition to code of conduct for bankers
UK’s Wheatley outlines steps toward new regulator
Chief executive-designate of the UK’s new Financial Conduct Authority outlines regulatory vision; new body to be created in 2013 as one half of ‘twin peaks’ approach
Riksbank deputy questions the role of inflation targeting
Per Jansson, deputy governor of the Sveriges Riksbank, suggests a move away from fine-tuning monetary policy around inflation but says a shift to a higher target does not seem advisable
Tyrie to scrutinise draft of UK’s Banking Reform bill
The UK’s Banking Reform Bill published today will undergo parliamentary scrutiny; Andrew Tyrie concerned important details are being left to secondary legislation