This annex provides further details of the questions referred to in the main text. Terminology and general definitions The following terms are used within the report: Cost – the cost to the issuing bank of raising money via the specified form of funding. …
The Bank of England (BoE) Levy is a new levy that was established on 1 March 2024 as a replacement to the Cash Ratio Deposit scheme. Both schemes enabled the Bank to undertake functions in pursuit of its monetary policy and financial stability objectives. …
Good morning. Thanks to the organisers of the ICAEW annual conference for the opportunity to speak here today. In giving a talk to such a distinguished group of accountants, I am reminded of a famous joke about economists: ‘An economist is someone who …
Introduction Good morning, it is a real privilege to be here to give the keynote today. My focus is on the essential foundation to RegTech, which is, of course, data. Without the right data, clearly defined and organised, we will never realise the full …
The September DMP survey was conducted between 6 and 20 September and received 2,218 responses. Firms reported that their output prices rose by an average annual rate of 4.2% in the three months to September, up 0.2 percentage points from 4.0% in the three …
Our engagement roadmap February 2024 October 2024 2025 2025–26 We published a discussion paper setting out some of the implications of extending RTGS and CHAPS settlement hours. This included the benefits to financial stability, cross-border payments, and …
Minutes of the Meeting of the Court of Directors held on 5 July 2024 Present: David Roberts, Chair Andrew Bailey, Governor Sarah Breeden, Deputy Governor – Financial Stability Clare Lombardelli, Deputy Governor - Monetary Policy Sam Woods, Deputy Governor …
Introductory remarks Good morning. I’m delighted to have the opportunity to speak to you today about innovations in the use of digital assets across the financial system, and how we’re helping to facilitate some of that innovation at the Bank of England. I …
Overview The Bank of England’s financial stability objective is to protect and enhance the stability of the financial system of the United Kingdom. The Systemic Risk Survey contributes to this objective by quantifying and tracking, on a biannual basis, …
Headline judgements and policy actions Risks to UK financial stability are broadly unchanged since the June 2024 Financial Stability Report (FSR). Significant financial market and global vulnerabilities remain. There was a significant spike in volatility …
The Bank of England, in partnership with UK Finance, the financial sector and the other UK financial authorities (HM Treasury and the Financial Conduct Authority), has undertaken its latest UK market wide simulation exercise, SIMEX 24. The simulation set …
Yesterday, 30 September 2024, the remaining synthetic LIBOR settings were published for the last time and LIBOR came to an end. All 35 LIBOR settings have now permanently ceased. The transition away from LIBOR, once referenced in an estimated $400 …
Minutes Minute 1: Introduction The Chair (Sharon Blackman) opened the meeting. Minute 2: Minutes The minutes of the meeting of 5 March 2024 were approved. Minute 3: AI and Financial Services update from Latham & Watkins (Becky Critchley & Gabriel …
Minutes Item 1 – Welcome and Apologies Ms Saporta welcomed Adam Pickett (Citigroup), Jenny Wootton (Morgan Stanley), and Valentina Ziviani (Insight Investment) as guest presenters. Ms Saporta welcomed Oliver McCausland (Financial Conduct Authority) and …
Minutes Item 1 – Welcome and Apologies James Kaye (Chair, HSBC) welcomed two new members to the Committee, Daniel Hoye (NatWest Markets) and Mark Codling (Deutsche Bank). The Chair also welcomed guests Adam Conn (Baillie Gifford), Andrew Harvey (Global …
1: Overview 1.1 This joint Bank of England (the Bank) and Financial Conduct Authority (FCA) policy statement (PS) provides feedback to responses which the Bank and FCA (together ‘the regulators’) received to the Digital Securities Sandbox (DSS) joint Bank …
2: Structure of the DSS Overview of the stages and gates of the DSS The DSS is composed of different stages of permitted activity, reflecting the Bank’s approach to managing financial stability risks. There will be a series of gates for sandbox entrants to …
By Rebecca Freeman, Tomas Key, Jeremy Martin, Jake Mulcahy and Angelos Theodorakopoulos.1: Introduction Global supply chains (GSCs) have become a major feature of economies worldwide over recent decades. GSCs are loosely defined as the splicing up of …
Minutes Item 1: Introduction Nic Erevik (NE) welcomed Committee members to this hybrid meeting, the first UK Money Market Code Sub-Committee (the Committee) meeting of 2024. Committee members were formally informed that Niv Erevik has replaced Terry Barton …
The Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) have appointed Elizabeth Passey as Chair of the Financial Services Compensation Scheme’s (FSCS) board. She will take up the role on 1 October 2024. Over a 30-year career, …
