Financial Regulatory Forum

Britain’s central bank surprises with expanded easing

August 6, 2009

By David Milliken and Matt Falloon
LONDON, Aug 6 (Reuters) – The Bank of England took a far
bigger step than expected to boost Britain’s recession-hit
economy on Thursday, stunning markets by expanding its
quantitative easing plan to 175 billion pounds from 125 billion.

UK bank supervision reform prolongs muddle -parliament panel

July 31, 2009

By Huw Jones
LONDON, July 31 (Reuters) – British government plans to revamp banking supervision fail to end a muddle over who is in charge and reform of the country’s top market watchdog falls short of what’s needed, a group of UK lawmakers said on Friday. (more…)

Bank of England to launch commercial paper facility Aug. 3

July 30, 2009

LONDON, July 30 (Reuters) – The Bank of England said on Thursday it would launch its Secured Commercial Paper Facility on Aug. 3 to improve the functioning of corporate credit markets.

UK business credit conditions better, lending costs scrutinized

July 27, 2009

By AnBritish finance ministerAlistair Darlingdy Bruce
LONDON, July 27 (Reuters) – British businesses are slowly finding it easier to raise funds from debt markets and bank loans, two surveys showed on Monday, a day after Britain’s finance minister said he was concerned about lending costs.  Companies were able to raise more finance from longer-term markets like corporate bonds in the second quarter, according to respondents in the Bank of England’s quarterly Asset Purchase Facility report, as liquidity and price transparency in the market improved. (more…)

BoE’s Bean says UK public finances must be stabilised

July 22, 2009

Deputy Bank of England Governor Charles Bean (L), Chancellor of he Exchequer Alistair Darling (R)LONDON, July 22 (Reuters) – Britain’s public finances will have to be brought back to a stable state as soon as signs of economic recovery emerge, Bank of England Deputy Governor Charles Bean said in an interview on Wednesday. (more…)

UK Conservatives would scrap financial watchdog

July 20, 2009

Britain's shadow chancellor George Osborne LONDON, July 20 (Reuters) – British regulator the Financial Services Authority (FSA) should be abolished and the Bank of England put in full charge of regulating financial institutions, opposition Conservatives said.

BoE’s Bean-QE has stimulus effect even after asset buying stops

July 14, 2009

Bank of England    LONDON, July 14 (Reuters) – The Bank of England’s quantitative easing will keep stimulating demand even when the asset-buying programme stops, the central bank’s deputy governor, Charles Bean, said in an interview published on Tuesday.

UK lawmakers query FSA role of BoE’s Miles

July 2, 2009

David Miles    LONDON, July 2 (Reuters) – British lawmakers backed the appointment of David Miles to the Monetary Policy Committee on Thursday but said they were worried about a possible conflict of interest from his role at the Financial Services Authority.

Bank of England’s Besley-too soon to know when to unwind QE

July 2, 2009

Bank of England policymaker Tim Besley     LONDON, July 2 (Reuters) – It is too early for the Bank of England to judge when it will need to start withdrawing the massive stimulus it has delivered to the economy, policymaker Timothy Besley said on Thursday.