Bank of England

The Bulk Purchase Annuities (BPA) sector is continuing its rapid growth and is poised to benefit from substantial regulatory reforms following the Government's review of Solvency II. In her speech Lisa Leaman outlines how the new Solvency UK insurance regulatory regime – in particular the reforms to the matching adjustment - will support insurers to meet the commitment they have made to further invest in assets that benefit the UK economy. There are new opportunities and challenges ahead, and Lisa explains how the Prudential Regulation Authority (PRA), working with industry, aims to respond to these. Read Lisa’s speech here: https://b-o-e.uk/3UmGsY2

The private equity market has grown considerably over the past decade, and with it, banks’ exposures to the sector have also grown considerably. The Prudential Regulation Authority (PRA) recently concluded a thematic review of firms’ private equity financing risk management frameworks. In her speech, Rebecca Jackson sets out the review’s findings, and highlights a number of gaps in firms’ risk management frameworks. Read Rebecca's speech in full here: https://b-o-e.uk/4dae2J1

In these remarks, Huw Pill assesses the inflation outlook in light of recent economic data, and offers his reflections on monetary policy strategy. He also discusses the recent Bernanke Review into the Bank of England's forecasting. Read Huw's remarks at the University of Chicago Booth School of Business here: https://b-o-e.uk/4b4XHDR

The private equity market has grown in size, complexity and interconnectedness. In his speech, Nat Benjamin steps through the vital role it plays in financing companies, describes recent developments, and asks questions about the impact of dynamics in that sector on safe and sustainable growth. Read his speech in full here: https://b-o-e.uk/4d6U1Dc

Dave Ramsden provides an update on his assessment of the evidence on what has caused the UK’s inflation. The evidence covers the key indicators of inflation persistence and associated analysis and what this implies for the extent to which the risks from persistence are receding. Read more here: https://b-o-e.uk/3UnIyI5

What does innovation look like in the financial system and how does it impact financial stability? This was the core of our discussion during the innovation workshop last week, where we gained insight from academics, industry and other regulators to help us deliver our new secondary innovation objective. Through the workshop we deepened our understanding of innovation through discussions around how different sectors define innovation, how regulation and innovation interact, and what innovation looks like in the financial system and its relation to financial stability, which remains our primary objective. We will publish further information on our approach to the secondary innovation objective in our 2024 report on the supervision of financial market infrastructures. Read the summary, key takeaways from the workshop, and further background on the secondary innovation objective, here: https://b-o-e.uk/3Q8oDdV Thank you to all the participants in our workshop for their valuable contributions and insights.

We're thrilled to announce Andrew Bailey - Governor Bank of England, Amanda Blanc DBE - Group CEO Aviva and Nicola Mendelsohn CBE - Head of Global Business Group Meta, as speakers at our Global Annual Conference 2024! ✨ The full day conference will be an opportunity for business leaders from across the UK, and the globe, to come together to discuss the key challenges to build a better future for business, the economy, and people in our local communities. Secure your tickets👉 https://lnkd.in/exKH75wY Headline partner NatWest Business and supported by Aviva bp Heathrow Simplyhealth #BCCCONF #FutureoftheEconomy #WhereBusinessBelongs

Climate change – through both physical impacts and the effects of economies transitioning to net zero – poses financial risks in both the short and long term. These risks are relevant to a wide range of institutions across the financial system. In this Bulletin, we explore how central banks and financial institutions can use scenario analysis to quantify these risks. Read more here: https://b-o-e.uk/3JmNeYx

In her speech, Sarah Breeden, Deputy Governor for Financial Stability, sets out how the Bank of England seeks both to deliver trust and support innovation in its role as provider and regulator of retail and wholesale money. Amidst the prospect of significant technological change in payments, she discusses the first-order threats and opportunities facing central banks and the private sector. Read Sarah's speech in full here: https://b-o-e.uk/4aPoFyY

In July 2023 the Court of the Bank of England announced that Dr Ben Bernanke would lead an independent review into the Bank’s forecasting and related processes during times of significant uncertainty. That Review, published today, provides a thorough assessment of the Bank’s current forecasting approach, and the relationship between the forecast, monetary policy decisions, and their communication. The Bank welcomes and is committed to action on all of the Review’s recommendations and will provide an update on proposed changes by the end of the year. Read more here: https://b-o-e.uk/3TTACwN