A Bank of England official is calling for more research into non-bank lenders. This effort would help prevent a “credit crunch” that could result from a pull-back by hedge funds, pension funds, asset managers and insurers, Bank of England (BoE) deputy governor Sarah Breeden said Monday (Feb. 26). “A shift in...
U.K. SMBs are feeling the pinch as business loan costs have increased to 4.7%. As British banks react to a difficult macroeconomic environment, the cost of borrowing for small- to medium-sized businesses (SMBs) has nearly doubled from the 2.5% rate at the end of 2021,...
England’s central bank is planning on gauging the resiliency of non-bank financial markets. As one of its most important protective functions, the Bank of England (BoE) runs various stress tests on the U.K.’s banking system to measure its resilience and inform policy measures intended to...
This week, the U.K. government and some regulatory agencies in the country announced changes to regulate the buy now, pay later (BNPL) sector and to review Visa and Mastercard’s cross-border interchange fees. The Bank of England sent a positive message to the crypto community after...
April 30, 2024
Are companies offering payments services in Great Britain prepared for disruptions such as cyberattacks? Sasha Mills, executive director for financial market infrastructure (FMI) at the Bank of England (BOE) said there is still work to be done. In a speech Tuesday (April 30), Mills said these companies — FMIs, as she calls them — need to […]
February 26, 2024
A Bank of England official is calling for more research into non-bank lenders. This effort would help prevent a “credit crunch” that could result from a pull-back by hedge funds, pension funds, asset managers...
December 13, 2022
England’s central bank is planning on gauging the resiliency of non-bank financial markets. As one of its most important protective functions, the Bank of England (BoE) runs various stress tests...
March 11, 2020
In an emergency move designed to stem the economic impact of the coronavirus, the Bank of England on Wednesday (March 11) cut the country’s interest rate by 50 basis points...
