Tag Archives: BoE

BoE updates resolution planning MoU

BoE has updated its MoU on resolution planning and crisis management between it, the PRA and Treasury. The MoU clearly sets out the duties of each entity and was last updated in April.

BoE announces SONIA implementation date

The Bank of England (BoE) has confirmed an implementation date of 23 April 2018 for reforms to the Sterling Overnight Index Average (SONIA) interest rate benchmark. The March 2017 reforms will result in the following changes: BoE taking on the end-to-end administration, including calculation and publication of SONIA; the coverage of SONIA being broadened to […]

BoE reviews FinTech Accelerator progress

Andrew Hauser, Executive Director for Banking, Payments and Financial Resilience, has commented on the work of BoE’s FinTech Accelerator programme since its launch in June 2016. The programme sought to improve BoE’s understanding of FinTech products and firms, and also to give these firms an insight into the questions and needs central banks might have, […]

BoE updates on resolution approach

BoE has published an update to its “approach to resolution“, originally published in 2014.

BoE NEDs review conflicts policies

The BoE’s non-executive directors have published a review of its approach to identifying and managing conflicts of interest within the BoE set up. There will be an update to the Bank’s Code of Conduct to update and clarify requirements. Among changes will be the appointment of a designated Conflicts Officer, together with other organisational and technological […]

Alex Brazier, Executive Director of BoE delivers a speech entitled: ‘Debt Strikes Back’ or ‘The Return of the Regulator’?

Alex Brazier, Executive Director (Financial Stability) at BoE has delivered a speech in which he considers the recent developments in household debt, how that debt can pose dangers to the wider economy, and the three lines of defence put in place by regulators to guard against those dangers. Mr Brazier observed that in the past […]

BOE releases details of RTGS payments proof of concept

In a press release, the BOE announced the successful use of Ripple’s Interledger Protocol to make two simulated Real Time Gross Settlement (RTGS) payments. Key findings: that the Interledger Protocol was able to support synchronisation of payments between two simulated RTGS ledgers;  that the ILP Validator created a single source of truth between the two ledgers, […]

BoE responds to risks in life and general insurance sectors

David Rule, Executive Director of Insurance Supervision at BoE delivered a speech on 6 July at the Association of British Insurers (ABI) with a focus on risks and BoE’s supervisory priorities in the life and general insurance sectors. BoE is concerned with risk concentrations and the impact of the current market conditions. For example, in […]

BoE publishes record of Financial Policy Committee meeting

BoE has published a record of its Financial Policy Committee’s Meeting on 21 June 2017. The report reveals the reasoning behind the recommendations and decisions in its Financial Stability Report no. 41. in relation to: Increasing the UK countercyclical capital buffer rate to 0.5%, from 0%; Clarifying its existing insurance measures in the mortgage market, designed […]

BoE publishes Financial Stability Report

BoE has published Financial Stability Report no. 41  which sets out the views of the Financial Policy Committee (FPC)  on the current financial stability of the UK, including an assessment of the risks to, and resilience of, the UK financial system and its recommendations to reduce those risks. The FPC has assessed the overall risks in […]