Marjorie Ngwenya reappointed to the Prudential Regulation Committee
The Economic Secretary to the Treasury has today confirmed the reappointment of Marjorie Ngwenya as an External Member of the Prudential Regulation Committee (PRC).
Central banks
FEDS Paper: Generative AI at the Crossroads: Light Bulb, Dynamo, or Microscope?
Martin Neil Baily, David M. Byrne, Aidan T. Kane, and Paul E. SotoWith the advent of generative AI (genAI), the potential scope of artificial intelligence has increased dramatically, but the future effect of genAI on productivity remains uncertain. The effect of the technology on the innovation process is a crucial open question.
IFDP Paper: Breaking Up: Fragmentation in Foreign Direct Investment
Cody KallenRising geopolitical tensions and supply chain vulnerabilities have driven recent fragmentation of foreign direct investment (FDI).
Remit and recommendations for the Financial Market Infrastructure Committee - July 2025
Exchange of letters between the Governor and the Deputy Governor for Financial Stability to the Chancellor
Minutes of the London FXJSC Main Committee Meeting - 13 March 2025
The Bank of England chairs the London Foreign Exchange Joint Standing Committee (FXJSC), which is a forum for discussion of the wholesale foreign exchange market. The FXJSC is made up of market participants, infrastructure providers and the UK financial regulators.
Minutes of the London FXJSC Legal Sub-committee Meeting – 5 March 2025
The Bank of England chairs the London Foreign Exchange Joint Standing Committee (FXJSC) Legal Sub-Committee. The FXJSC is made up of market participants, infrastructure providers and the UK financial regulators.
Minutes of the London FXJSC Operations Sub-committee Meeting – 26 February 2025
The Bank of England chairs the London Foreign Exchange Joint Standing Committee (FXJSC) Operations Sub-Committee. The FXJSC is made up of market participants, infrastructure providers and the UK financial regulators.
FCA and PRA cut senior manager regime red tape to help boost growth
In the first phase of reforms to the SM&CR, the FCA and PRA are proposing to streamline the regime to make it more effective and efficient and to drive growth in financial services.
Payments Vision Delivery Committee update
The National Payments Vision set out the government’s ambitions for a world-leading payments ecosystem which drives innovation, supports competition and ensures security, in line with the Growth Mission.
Bank fragility and risk management
Shocks to a bank’s ability to raise liquidity at short notice can trigger depositor panics. Why don’t banks take a more active role in managing these risks? We study contingent risk management (hedging) in a standard global-games model of a bank run. Banks fail to hedge precisely when the exposure to a shock is most severe, just when risk management would have the biggest impact. Higher bank capital and broader deposit-insurance coverage crowd out hedging by banks that already manage risk, yet encourage more banks to establish risk management desks in the first place.
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