United Kingdom
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
BoE data shows May rise in lending levels
Bank of England data on lending shows moderate gains in amount of loans issued to individuals and households; lending still remains below pre-crisis levels
Denmark’s Bernstein proposes UK-style merger between central bank and regulator
National Bank of Denmark director Nils Bernstein says collaboration between the central bank and Financial Services Authority will sharpen supervisory powers
Bank’s Sentance in shock call to raise rates
Arch hawk argues inflation risks warrant quarter-point hike in rates
Financial Services Authority - Annual Report (2009/10)
UK Financial Services Authority's annual report discusses the regulator's transformation since the financial crisis
UK Banking Commission proposes adoption of Volcker Rule
Report on banking reform proposes that modified version of Volcker rule be adopted
Top economists call for central banks to oversee financial stability
Leading thinkers including former Federal Reserve Board governor Frederic Mishkin say central banks should watch financial stability; set of crisis prevention proposals include limits on bankers’ pay
Bank of England - Quarterly Bulletin (Q2 2010)
Bank's Quarterly Bulletin says yields on UK gilts fell in the last quarter due to lower expected future interest rates
BoE survey shows inflation expectations have hit fresh high
A Bank of England survey shows inflation expectations in the United Kingdom increased to a new 21-month high
G20 ditches controversial global bank tax
Finance ministers splinter on international banking levy, complicating individual countries’ promises to adopt a tax; group unites in call for Basel III to be completed by year-end
Bank tests joint credit and interest rate risk model
Bank of England research tests endogenous model to calculate credit and interest risk; finds results differ substantially
BoE payments research offers tips on economising on collateral
Bank of England study into payments systems argues that under a collateral-based real-time gross settlement system liquidity savings mechanisms can improve welfare
BOE payments review finds scope for cost cutting
Bank of England review on real-time payment and settlements systems shows significant opportunities for cost savings