United Kingdom
ECB paper on credit card users under binding constraints
European Central Bank shows credit card users are insensitive to interest rate rises on transactions
Consumer behaviour influences financial distress: ECB paper
European Central Bank study shows individuals’ behavioural traits may contribute to level of financial distress experienced by consumers
Bank’s Sentance lists reasons for rate hike
Bank of England external Monetary Policy Committee member Andrew Sentance stresses importance of gradual rise in interest rates
BoE forecasts at odds with public view: BIS paper
Bank for International Settlements study finds substantial disagreement among UK consumers and Bank of England over inflation forecasts
BoE - Agents' Summary of Business Conditions (February 2011)
The Bank of England’s February 2011 Agents' Summary of Business Conditions finds evidence of moderate pick-up in retail sales
Bank’s chief economist joins dissenters on rate hike
Bank of England chief economist Spencer Dale votes for rate hike; analysts say outlook remains unclear given persisting weakness in data
Geithner slams UK for light-touch regulation
US Treasury secretary Timothy Geithner says UK’s light-touch approach to regulation was a deeply costly strategy; says creating level playing field for banks will be crucial
King acknowledges risk of wage-price spiral as inflation climbs to double Bank’s target
Inflation of 4% in January prompts Bank of England governor Mervyn King to pen another letter to the chancellor; letter acknowledges mounting inflationary pressures
Britain gets banks to agree on £10 billion boost to SMEs
UK’s chancellor George Osborne strikes deal with Britain’s largest banks to lend £10 billion more in funds to SMEs; Bank of England to report on banks’ contribution in next Trends in Lending report
IMF studies G-7 factors in global business cycles
IMF study examines impact of G-7 indicators in driving global business cycles
UK Treasury Committee calls on FSA to disclose details of banks’ pay
UK’s Treasury Committee chairman Andrew Tyrie asks FSA chief to disclose remuneration of 'high-end' employees; says disclosure in aggregated form will protect competitiveness of financial firms
Bank of England - Asset Purchase Facility Report (Fourth Quarter 2010)
Bank of England Fourth Quarter 2010 Asset Purchase Facility Report shows Bank made first purchase in secured commercial paper
Bank’s Weale joins Sentance in vote for rate hike
Bank of England’s external MPC member Martin Weale joins Andrew Sentance in vote for 25-basis point rate hike; decision marks growing divisions in rate-setting committee
Bank of England - Agents’ summary of business conditions (January 2011)
Bank of England’s January 2011 Agents’ summary of business conditions says severe weather conditions in December had negative impact on household spending
Banking Commission chief makes case for ring-fencing retail operations
Independent Commission on Banking chief John Vickers rules out “radical narrow banking” but says some separation between investment and retail banks could help
Bank of England – Trends in Lending (January 2011)
Bank of England’s January 2011 Trends in Lending survey show lending to business in the UK over the three months to November declined by £5 billion
Barclays’ Diamond argues case for universal banking
Barclays' chief executive Bob Diamond adamant bank’s model funds cheaper lending and is less risky
BoE: Agents’ summary of business conditions (December 2010)
Bank survey shows strong export growth, rise in manufacturing and services activity; weak housing market, tough credit conditions for small firms
Britain raises bank levy
UK government publishes final bank tax law that will raise the levy on liabilities higher than initial proposals set out in June
BoE’s Dale identifies persistent headwinds in UK
Bank of England chief economist Spencer Dale spots headwinds that continue to restrict growth in the United Kingdom
Forrest Capie’s Bank anecdotes
William M. Clarke and Robert Pringle select some amusing excerpts from a new history of the Bank of England.
British bankers lobby Banking Commission
British Bankers’ Association chief executive Angela Knight warns against breaking up the banks; argues Basel III does not need to be buffered by national measures
BoE survey shows heightened risk aversion in lending
Bank of England’s Agents’ summary of business conditions shows impaired balance sheets caused lenders to remain risk-averse