Statistical Notice 2026/07 - Bank of England Levy: Notification Document Levy Year 2026/27
Statistical Notices update the definitions and guidance contained in the Banking Statistics Yellow Folder
Financial institutions
FEDS Paper: Capturing Heterogeneity: Machine Learning Approaches to Implied Volatility Forecasting
Hyung Joo Kim and Dong Hwan OhDespite documented heterogeneity in volatility dynamics across the option surface, standard implied volatility forecasting models apply homogeneous parameters throughout. We introduce a machine-learning framework that uses regression trees to partition the surface along both moneyness and maturity dimensions, identifying data-driven regions where distinct forecasting models perform best.
Financial Policy Committee Record – July 2026
Our Financial Policy Committee (FPC) meets to identify risks to financial stability and agree policy actions aimed at safeguarding the resilience of the UK financial system.
Bank of England appoints Rhys Phillips as the new Chief Cashier
The Governor of the Bank of England, Andrew Bailey, has announced that Rhys Phillips will be the next Chief Cashier and Director of Notes. He will take up the role on 19 October 2026.
FEDS Paper: The Standards Are in the Mail: Comparing Credit Card Supply Indicators
John C. Driscoll, Benjamin S. Kay, Geng Li, and Cindy M. VojtechWe provide the first lender-level analysis linking two independently constructed credit supply measures: the Federal Reserve's Senior Loan Officer Opinion Survey (SLOOS) and credit card mail offers from Mintel Comperemedia.
Minutes of the London FXJSC Main Committee Meeting – 26 March 2026
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 – 17 March 2026
The Bank of England provides the Secretariat to 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 – 18 March 2026
The Bank of England chairs the London Foreign Exchange Joint Standing Committee (FXJSC) Operations and Legal Sub-Committees. The FXJSC is made up of market participants, infrastructure providers and the UK financial regulators.
Statistical Notice 2026/06 - Form PL - updates to definitions
Statistical Notices update the definitions and guidance contained in the Banking Statistics Yellow Folder
FEDS Paper: Cyclical Fluctuations, Financial Frictions, and Productivity Differences across Firms
Luca Guerrieri, Jinill Kim, and Arsenii MishinWithin narrowly defined industries, the most productive firms produce far more than the least productive from the same inputs, and this dispersion widens in downturns. We build a tractable representative-agent model in which financial frictions—adverse selection and moral hazard—make firms sort endogenously into lenders, strategic defaulters, and producers.
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