Bank of England (BoE)
UK government unveils £50 billion bank recapitalisation plan
The UK government this morning announced a jumbo rescue package to recapitalise the country’s ailing banking sector.
Bank of England extends eligible collateral for repo facility
The Bank of England (BoE) on Friday extended the range of collateral eligible for its weekly sterling three-month repo facility to include AAA-rated asset backed securities (ABSs) of corporate and consumer loans and highly rated asset-backed commercial…
Bradford & Bingley nationalised
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UK issues banking reform report
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Central banks reveal co-ordinated response to liquidity crisis
The world's major central banks today unveiled plans for a $180 billion injection of liquidity to restore stability to global financial markets.
Bank of England now responsible for financial stability
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City expert panel mooted for Bank of England
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BoE reveals £50bn liquidity facility
Banks have welcomed a scheme by the Bank of England (BoE) aimed at improving the balance sheets of UK financial institutions. The £50 billion facility, announced on April 21, will allow financial institutions to swap illiquid mortgage-backed securities…
Bank of England will swap gilts for RMBS
The Bank of England will step in to improve the balance sheets of UK banks by allowing them to swap illiquid mortgage-backed securities for treasury bills.
UK authorities release depositor protection proposals
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FSA replies to Treasury’s allegations of failure
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Bank of England Act proposed
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FSA given powers to prevent another Northern Rock
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Central banks offer $20bn auctions to revive liquidity
The Federal Reserve, the European Central Bank (ECB) and the central banks of the UK, Canada and Switzerland have agreed upon a series of auctions to provide billions for credit-starved financial institutions.
Crisis could spread to equity and commercial property, Bank of England warns
The credit crisis has highlighted serious shortfalls in transparency and risk management among UK banks, and could still spread to affect the equity and commercial property markets, the Bank of England warned today.
Sebton leaves Isda for JP Morgan
Emmanuelle Sebton, the International Swaps and Derivatives Association’s head of risk management, has left to join JP Morgan.
Bank of England warns of liquidity and credit risk problems
In its latest Financial Stability Report, released yesterday, the Bank of England said the UK financial system was still healthy, but warned that advances in financial engineering were exposing the system to the risk of a sudden decline in credit quality…
UK authorities issue best practice guide for business continuity
An operational risk benchmarking exercise completed by financial institutions and UK authorities in 2005 has led to the creation of a new business continuity practice guide for the UK financial industry.
Bank of England hits out at quality of dealer stress-tests
The Bank of England gave the UK banking industry a stark warning today to improve stress-testing systems to avoid being dangerously exposed if there is a 'severe shock' to the financial system. The UK’s central bank made the comments in its twice-yearly…
Jump in private equity deals puts corporate balance sheets at risk
The UK’s Bank of England has today warned that a sharp jump in borrowing linked to private equity deals has left corporations at increasing risk of defaulting on loan commitments.
SG boosts European rates sales
Société Générale has hired Jan de Bondt and Ian Morgan in rates sales as the bank looks to expand its European footprint in the rates business.
Bank of England says back office delays still a risk
Delays in trade confirmations are still a problem in credit derivatives trading and expose the industry to unnecessary risk, according to a report by the Bank of England.