United Kingdom
Sentance: Bank risks losing credibility if rates remain on hold
Bank of England external MPC member Andrew Sentance says central bank risks being seen as not taking its inflation-fighting remit seriously if it does not begin to raise rates
Hungary sets four hour limit for retail payments
National Bank of Hungary issues decree requiring banks to settle electronic payments within four hours; move may cost banks up to $40m, admits deputy
UK arrests two in Securency raids
Officials take two men into custody in Securency graft probe as coordinated raids unfold in Australia, Britain and Spain
Brussels crafts principles for bank account access
European Commission consults on principles to ground law granting universal access to basic bank accounts; 6% of adults do not have a bank account
BoE: stress tests tightened credit conditions
Bank of England’s survey on credit conditions shows lenders thought the availability of funds tightened in response to European stress tests
UK banking commission moots reforms
Commissioners stress they have an open mind as to which structure will best suit British banking industry
FSA’s Turner: regulator faces challenging transition period
Financial Services Authority chairman Adair Turner says restructuring of regulator will no doubt impact quality of operations
Central banks are preferred regulators: CentralBanking.com panel
Charles Goodhart, Sir John Gieve and Paul Mortimer-Lee say regulation is best housed within the central bank but warn challenges remain
Goolsbee to replace Romer at helm of Council of Economic Advisers
Former University of Chicago professor Austan Goolsbee named as successor to Christina Romer
Britain names new head of fiscal watchdog
Institute for Fiscal Studies director Robert Chote is chancellor George Osborne’s choice to head government’s Office for Budget Responsibility; Chote likely to be approved by Treasury Select Committee
OECD warns on global slowdown
G7 growth set to slow to 1.5% in the second half of the year; chief economist advocates more QE if slowdown does become entrenched
Margaret Cole joins UK FSA Board
Financial Services Authority promotes Margaret Cole to board as managing director of enforcement and financial crime
King writes third letter in a row to government explaining above-target inflation
Bank of England governor Mervyn King pens year's third letter to account for inflation of more than one percentage point above target; stresses health of long-term expectations, but economists unsure
Welcome to Twin Peaks
The decision by the British government to adopt the Twin Peaks model of financial regulation represents a significant turnaround in the Bank of England’s political fortunes, writes Michael Taylor.
De La Rue chief quits over printing errors
De La Rue’s chief executive James Hussey resigns after taking blame for faulty banknotes; shares plunge nearly 10%
Bank leaps to defence of off-target inflation forecasts
Bank of England lifts inflation predictions on volatility from short-term shocks, mounting spirited defence of erroneous predictions to date; slightly lowers growth expectations
Bank of England – Asset Purchase Facility Annual Report (2009/10)
Asset Purchase Facility Annual Report shows Bank £1.75 billion down on back of decline in value of gilt stock
BoE: Asset Purchase Facility Quarterly Report (2010 Q2)
Bank of England’s latest Asset Purchase Facility Quarterly Report shows fear over eurozone debt crisis led to rise in corporate debt purchases
BoE: UK consumer confidence continues to slump
Bank of England field survey on business conditions shows consumer sentiment slightly weaker in second quarter of 2010 as sales declined
Bank of England – Trends in Lending (July 2010)
Bank of England’s July lending report shows further declines in bank loans as demand continues to weaken
Central bank auctions reveal banks' liquidity risks
BIS study says aggressive bidding in central bank auctions good indication of liquidity risks at banks
Former MPC member Blanchflower unconvinced by Bank’s QE paper
Former Bank of England Monetary Policy Committee member David Blanchflower highlights large errors in results used to explain impact of QE programme
UK’s Hoban wants greater say over European regulatory reform
UK financial secretary to the Treasury Mark Hoban concedes London’s prominence as financial centre has ended, says Britain must have stronger voice in Europe on regulatory reform
Founding MPC member leaves UK fiscal watchdog after three months
Office of Budget Responsibility head Sir Alan Budd steps down after barely three months on the job