United Kingdom
Fisher gets markets job
Paul Fisher has been appointed as the new executive director for markets of the Bank of England. Fisher will start in his role on 1 March and will also sit on the monetary policy committee (MPC).
City regulator resigns after furore
Sir James Crosby has resigned as deputy chairman of the Financial Services Authority (FSA) in Britain, following allegations that he sacked a senior risk manager at HBOS, a bank Crosby headed, who raised concerns over the risk exposure of the bank.
King presents gloomy outlook
The Bank of England has revised its forecast for growth in the British down sharply and says the recovery will depend "to a significant extent on developments in the rest of the world where a severe economic downturn has taken hold."
Cash holding on the rise
Notes and coins in circulation were on average 1.1% higher than December, new data from the Bank of England show.
FSA: economy and financial system risk related
The latest Financial Risk Outlook by the Financial Services Authority's (FSA) in Britain analyses how macroeconomic and financial system risks have become more closely interconnected.
Old Lady to begin buying commercial paper mid-Feb
The Bank of England's commercial paper facility will become operational on 19 February, the Bank said on Friday.
Bank cuts to 1%, economy in severe downturn
The Bank of England chopped 50 basis points off bank rate on Thursday and stepped up the rhetoric on the scale of the crisis, saying that the global economy was now "in the throes of a severe and synchronised downturn".
UK edges towards bad-bank solution
Britain is considering adopting the bad bank model to buy toxic assets a little over a fortnight after London announced plans to guarantee banks' bad debt.
Social role of banks must change: UK's McFall
John McFall, the head of Britain's influential Treasury Committee, on why finance-industry pay must be curbed, some of the country's biggest banks nationalised and lessons can be learned from abroad
Crisis demands a common voice: UK's McFall
John McFall, the chairman of Britain's Treasury Committee, tells CentralBankNews.com why the financial crisis means central bankers will have to change the way they speak.
MPC would use additional tools at zero bound
The Bank of England's Monetary Policy Committee (MPC) has considered the options should bank rate come close to or reach the zero bound, said David Blanchflower, a member of the committee.
UK lawmakers want all the gore on bank lifelines
An influential group of British lawmakers have called for the UK Treasury to be much more open in detailing the liabilities taken on by its ownership of stakes in some of the country's biggest banks.
FSA chairman outlines reform agenda
Lord Adair Turner, the chairman of the Financial Services Authority (FSA), Britain's financial supervisor, on Wednesday presented his vision of how regulation needed to change.
UK action must be backed up abroad: BoE's Tucker
The British Treasury's measures, announced Monday, to kickstart a financial recovery stand a better chance of success if they are mirrored by governments across the globe, a senior Bank of England official testified on Wednesday.
Business can bypass banks with bond sales: King
The Bank of England's round of corporate bond purchases, set to begin within weeks, could revive ailing capital markets by reducing businesses reliance on bank lending, Mervyn King, the governor of the Bank of England, said on Tuesday evening.
Why we must say no to nationalisation
In the UK, nationalisation is increasingly being advocated by many experts as a solution to the banking crisis. Such a step would be a disaster for the UK and the City of London, argues Robert Pringle, the editor-in-chief of Central Banking journal.
Bank of England's January minutes
The minutes from the January meeting of the Bank of England's Monetary Policy Committee show most members judged cutting bank rate by 50 basis points would provide a significant stimulus to the economy.
UK inflation still in letter-writing territory
British CPI inflation in the year to December was 3.1%, down a full percentage point from the November figure but still significantly above the Bank of England's 2% target.
Bank granted new powers to aid markets
The Bank of England has been given new powers, including the potential to undertake quantitative easing, as part of renewed efforts to safeguard the financial system, announced by the British Treasury on Monday.
London's lifelines lack coherence
The dangerously mixed messages underlying the British government's rescue attempts threaten to derail efforts to secure stability, argues Robert Pringle, the editor-in-chief of Central Banking journal.
BoE's Gieve: market signals mixed
The fortunes of the financial markets in the New Year have been mixed, said Sir John Gieve, the deputy governor of the Bank of England.
Ex-MPC members offer solutions to crunch
A financial stability committee, a derivatives exchange and a pan-EU regulator were among the ideas suggested to stave off future credit crises by an influential group of British-based economists on Tuesday.
BoE - Credit Conditions Survey
UK lenders report rise in default rates and losses on lending to households and private non-financial corporations, says the Bank of England's Credit Conditions Survey for the last quarter of 2008.