Monday, February 15, 2016

B of E Issues Consultation on Systemic Risk Buffer for Ring-Fenced Banks

Author: David Schwartz J.D. CPA

On January 29, 2016, the Bank of England (B of E) issued a consultation paper laying out its proposed framework for the systemic risk buffer (SRB) to be applied to ring-fenced banks and large building societies holding more than £25 billion of retail and small and medium enterprise deposits. The proposals are intended to provide clarity to banks on how much capital they will be required to reserve in connection with the activities of their "ring-fenced" arms.

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Thursday, October 15, 2015

B of E Explores Accepting Equities as Collateral

Author: David Schwartz J.D. CPA

In a speech in July before at the Money Markets Liaison Committee in London, Chris Salmon, Executive Director, Markets, Bank of England hinted that the Bank of England was exploring means by which it could accept equities as collateral for its market operations.

 

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Tuesday, January 14, 2014

Economic Recovery: Why Now, Will it Last, and What Next for Policy?

Author: David Schwartz J.D. CPA
Why, after throwing everything bar the kitchen sink at the economy over the past few years, has the economy started to grow only now? Even more importantly, will the recovery last? Having seen a few false dawns over recent years, has the recovery really taken hold this time? And what does all this mean for monetary policy?

Last month in an address before the  Confederation of British Industry (CBI) East of England Midwinter Lunch, Spencer Dale, Executive Director for Monetary Policy and Chief Economist at the Bank of England, touched on three questions about the economic recovery that we would all like to have answered: "why now, will it last, and what next for policy?"

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Friday, January 18, 2013

A Top Down Approach to Resolutions of Globally Active SIFIs

Author: David Schwartz J.D. CPA
The Bank of England and the US FDIC have issued a joint white paper, "Resolving Globally Active, Systemically Important, Financial Institutions," focusing on “top-down” resolution strategies that involve a single resolution authority applying its powers to the top of a financial group, that is, at the parent company level. The December 10, 2012 paper discusses how such a top-down strategy could be implemented for a U.S. or a U.K. financial group in a cross-border context.
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