Sanctions against Russia in response to its invasion of Ukraine are “manageable” for Britain’s insurers and wider financial sector, Bank of England Deputy Governor Sam Woods said on Tuesday. Britain is banning Russian companies from the multi-billion-dollar aviation and space …
A push to make London more attractive as a global financial center after Brexit must not threaten high standards of solvency and behavior at banks, insurers and markets, the International Monetary Fund said on Wednesday. The IMF said in its …
Women who work mostly from home risk seeing their careers suffer now that significant numbers of workers are returning to the office after the COVID-19 pandemic, Bank of England policymaker Catherine Mann said on [Nov. 11]. Mann, a member of …
The Bank of England will crack down from next year on banks and insurers that do not hold enough capital to cover risks from climate change, while also considering bespoke safety buffers. Climate-related financial risks are partially captured by existing …
New rules will be needed to deal with operational risks from banks relying on outsourced “cloud” computing from Amazon, Google, Microsoft and others for providing services to customers, the Bank of England said on Friday. “Regulated firms will continue to …
The Bank of England on Tuesday set out its first comprehensive stress test of the ability of the British financial system to cope with climate change, saying the results will not be used to determine capital requirements for now. The …
LONDON – The Bank of England might strengthen its controls on cloud data providers and other technology firms to counter possible risks to the stability of the financial system from the rise of fintech, Deputy Governor Dave Ramsden said. The …
LONDON – Britain should not be “short-sighted” and copy European Union rules just to keep financial activity in London, Bank of England executive director for financial stability Alex Brazier said on Monday. The City of London was cut adrift from …
The Bank of England told insurers on Wednesday not to expect any big reduction in capital requirements after Brexit, adding that more capital could be “part of the answer” to meeting a 1.7 billion pound bill for COVID-19 claims. Britain …
Britain should not submit to the European Union’s financial services rules just to get better access to the bloc’s market after Brexit, Bank of England Governor Andrew Bailey said on Wednesday. European daily share trading worth 6 billion euros ($7.36 …
