Tag Archives: BoE

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 […]

BoE speaks on operational resilience

Charlotte Gerken has spoken of the BoE’s approach to operational resilience. She focussed on how it is developing its approach in co-operation with firms and other regulators. BoE’s aim is to improve the ability of the financial services sector to absorb the impact of an unexpected event while continuing to perform its key activities.  Part […]

BoE updates Fintech accelerator

BoE has updated its Fintech accelerator page, to reflect that its latest call for applications is now closed. The page also outlines the current proofs of concept that currently form part of the accelerator programme.

BoE speaks on ethics and culture in banking

Mark Carney has spoken on the work to improve the culture of the banking industry. He commented that the banking industry has suffered twin crises of solvency and legitimacy. The solvency problems are being addressed by significant regulatory reforms to make banks more liquid, more focused and stronger. Meanwhile, multiple examples of misconduct have led many […]

BoE updates on payments infrastructure

Members of our team attended a seminar on the retail payments infrastructure. Among the speakers, David Bailey outlined BoE’s current priorities. He spoke of the role of the Payments Strategy Forum and BoE’s work on real time gross settlement. He focussed on the proposal to consolidate Bacs and Faster Payments, and the Cheque & Credit […]