July 18, 2024
The booming non-bank financial industry has created excessive leverage that poses financial stability risks, and more reforms are needed to tackle it, including improving disclosure of positions, a Bank of England regulator said on Thursday. Non-bank financial institutions (NBFIs), including …
February 26, 2024
Regulators need broader oversight of financial firms to prevent a crisis in the vast non-bank sector turning into a credit crunch and wreaking havoc on the economy, Britain’s central bank said on Monday. The Bank of England was forced to …
February 1, 2024
Britain’s opposition Labour Party, tipped in the polls to win an election expected this year, set out its blueprint on Tuesday to “unashamedly champion” a financial sector worried about its global competitiveness following Brexit as top rival New York lures …
January 12, 2024
The Bank of England may tighten supervision of life insurers’ use of the “funded reinsurance” market, typically alternative asset managers who make riskier investments, as corporate pension providers increasingly rely on this offshore sector. Funded reinsurers help insurers manage the …
November 17, 2023
A new national climate report that shows temperatures rapidly rising, but it also has some good news for the U.S. The Fifth National Climate Assessment, which analyzes the impacts of climate and global change in the U.S., shows that global …
November 13, 2023
The Bank of England said on Friday it would start the second leg to its first system-wide stress test of how banks, insurers, pension schemes and clearing houses collectively cope with shocks involving interest rates and risky asset prices over …
October 3, 2023
The Bank of England said on Tuesday it will check the health of general insurers in 2025 with a “stress test” that includes a rapid series of shocks, as sector capital rules are eased. Regulators have introduced stress tests since …
September 28, 2023
Britain set out plans on Thursday to ease key banking and insurance rules in the latest attempt to boost its vital financial sector following the country’s departure from the European Union. Brexit has cut off Britain’s finance industry, which accounts …
September 25, 2023
Britain’s financial regulators proposed guidance on Monday for financial firms to tackle sexual harassment and bullying, along with new requirements for large banks and insurers to set targets to improve diversity and inclusion. The Financial Conduct Authority (FCA) and the …
September 19, 2023
Easing rules to boost the post-Brexit global competitiveness of Britain’s financial sector can only be done while maintaining a resilient financial system, Bank of England Deputy Governor Sam Woods said on Tuesday. The Bank of England was given a new …