United Kingdom
Markets recoil as major central banks ease policies
Chinese, European and UK central banks take monetary policy action; moves leave no doubt about gloomy global economic picture as eurozone stock markets fail to rally
Diamond clarifies note on conversation with BoE deputy
Former chief executive of Barclays explains note written after conversation with Paul Tucker; gives evidence on same day Tucker makes public request for hearing with Treasury Select Committee
Barclays draws Bank of England into Libor debacle
Email relaying conversation between Bob Diamond and Paul Tucker raises questions over BoE deputy’s role in rate-setting scandal; Diamond set to explain further before parliamentary committee tomorrow
King calls for overhaul of UK banking system
Governor of the Bank of England says cultures of investment and retail banking operations do not mix; calls on government to legislate on all of Independent Commission on Banking’s recommendations
Libor manipulation lawsuits could cost banks ‘tens of billions’
Barclays' $450m settlement gives lawyers smoking gun evidence of attempts to tamper with benchmark rates
BoE’s Weale discusses monetary policy challenges
Martin Weale paints bleak picture of the global economy; says new Bank of England schemes should help to support the recovery
Bank of England to post collateral in OTC derivatives trades
BoE thought to be the first major central bank to change policy on collateralisation as it seeks to reduce dealer funding charges
BoE’s Jenkins discusses threats to financial system
Financial Policy Committee member considers dangers facing the global financial system; says future interventions to stabilise cross-border capital flows are likely
UK plans joint BoE-government funding scheme
Mervyn King announces 'funding for lending' scheme for banks; stresses full support from government is necessary
FSA’s Sants airs fears of overburdened BoE governor
Hector Sants says operational tasks handed to Bank of England governor under recent reforms could be “too great”; slams government and BoE for not listening to advice concerning Northern Rock collapse
Posen calls on BoE to go beyond gilt purchases
External MPC member urges purchase of assets other than government bonds; suggests creation of a Fannie Mae-type entity in the UK
Andrew Bailey to join interim UK Financial Policy Committee
Bailey to join June meeting of interim Financial Policy Committee as a voting member; takes over as head of the Prudential Business Unit at the FSA in the same month
New members admitted to BoE Court
Queen of England approves government recommendations; Bradley Fried, Tim Frost and Dave Prentis become non-executive directors of the Bank of England
UK police seize more than £4 million in counterfeit coins
Metropolitan police uncover large counterfeit operation in UK; some of the fake coins may already be in circulation
BoE’s Bailey debunks ‘dangerous’ free banking myth
Andrew Bailey says reform of UK banking sector is needed to include upfront charges on banking services; calls current supposedly free in-credit banking a "dangerous myth"
Canada behind macro-prudential curve, say former Bank governors
Paul Jenkins and Gordon Thiessen want responsibility for macro-prudential policy formally assigned in Canada; also urge creation of a framework in which to carry out these functions
BoE minutes reveal ‘finely balanced’ decision on QE in UK
Minutes from May meeting of Bank of England’s Monetary Policy Committee show uncertainty among policy-makers over the decision to leave asset purchase programme at its current level
IMF calls for looser monetary policy in the UK
Latest Article IV review of UK urges further QE or a cut to policy rate; Fund calls on Bank of England to act to boost growth
Bank of England launches review of crisis-handling
Court of the Bank of England commissions set of reviews to learn lessons relevant for the bank’s future responsibilities; first public announcement regarding analysis of this type
BoE paper studies forecasting models
Working paper from Bank of England compares models with time-varying parameters in forecasting UK GDP growth, inflation and interest rates under structural change
Central banks take part in ‘Night of Museums’ event
Central bank museums to open late as part of European Night of Museums event; UK and Lithuania among those with special events planned
Bundesbank reveals location of gold holdings
German central bank says gold is held in four countries; kept in the vaults of the trading centres where transfers happened
European finance ministers agree on Basel III rules
Capital requirement regulations relaxed to allow unanimous support of regulations to implement Basel III; European Parliament negotiations next
Have your say on the next governor of the BoE
CentralBanking.com is running a poll asking about the credentials Mervyn King’s successor should possess