United Kingdom
FCA asked to investigate ‘unwarranted’ bank account freezing
Parliamentary committee concerned AI may have caused ‘inappropriate bias’
BoE paper builds GDP-at-risk model
Authors generate “fat-tailed” distribution to explore economy’s tendency to hit lower bound on rates
Minority groups sidelined by BoE, report finds
Internal review reveals minority ethnic staff felt less safe in the workplace, while career progression was stifled
Incoming BoE policy-maker says inflation ‘momentum’ is easing
Catherine Mann says price rises appear to be starting to taper off
UK politicians criticise BoE over handling of QE
Critical report comes as BoE MPC member suggests asset purchases may need to be halted early
FCA to expand UK footprint as part of new strategy
Regulator’s priorities will include climate risk disclosures and financial sector diversity
BoE removes ‘guardrails’ on bank dividend payments
Central bank eases restrictions as outlook for UK financial sector improves
UK financial sector slowly improving on diversity – BoE paper
Research shows women are gaining a foothold, but progress with age and nationality diversity has stalled
BoE paper explores impact of machine learning on credit
Benefits of AI-driven screening depend on market characteristics, authors find
Somalia’s governor on rebuilding its central bank
Governor Abdirahman Mohamed Abdullahi discusses reviving Somalia’s war-damaged economy, re-creating a payments system, and dealing with remittances
UK regulators propose new policies to foster diversity
Data and disclosure will be important to assess progress, regulators say
FCA warns against use of ‘credit-sensitive’ rates in place of Libor
Banks should tell the FCA if they plan to use such rates and consider the risks “carefully”
BoE adapting working practices to post-Covid world, says Place
Central bank is changing staffing, technology and buildings in light of lessons from pandemic working
BoE paper models impact of ‘active’ fiscal policy
Active fiscal policy complicates monetary policy but can generate higher welfare, author says
UK and Singapore to co-operate on regulation
Central banks and finance ministries to co-operate on cyber security and climate impact
People: Chile’s central bank appoints new general manager
FCA makes appointments to legal team; Haitian governor to lead financial inclusion initiative
Haldane says inflation targeting faces its ‘most dangerous moment’
BoE chief economist says risks of inflation and fiscal dominance are both on the rise
BoE demands changes at Euroclear after system outage
Central bank takes supervisory action over outage that caused “notable” market disruption
UK household debt has not yet amplified Covid shock – BoE paper
But the share of households reporting financial difficulties is now rising, authors note
Bank of England holds interest rates and asset purchases
MPC wants evidence spare capacity is being reduced but Haldane votes for lower asset purchases
UK committee calls for reform at FCA over ‘mini-bond’ scandal
Treasury Committee says it does not believe Andrew Bailey misled it over his role in the matter
Bank of England prepares for first public CCP stress test
Discussion paper sets out eight components of supervisory stress test for key market infrastructure
People: Sam Woods reappointed; Fernanda Nechio returns to SF Fed
BoE deputy gets fresh term; Nechio to lead regional Fed’s sustainability research; and more
BoE completes transition to polymer
New £50 banknote featuring scientist Alan Turing enters circulation