360° Coverage : Bank of England unveils stress test plans

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Bank of England unveils stress test plans
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Bank of England unveils stress test plans

Oct 2 2013, 6:04am CDT | by IANS

London, Oct 2 (IANS) Bank of England (BOE) unveiled plans for stress testing of British banks which could see increases in the amount of capital they are obliged to hold.

London, Oct 2 — Bank of England (BOE) unveiled plans for stress testing of British banks which could see increases in the amount of capital they are obliged to hold. "Looking to 2014 and beyond, the...

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1 year ago

Bank of England unveils stress test plans

Oct 2 2013, 6:04am CDT | by IANS

London, Oct 2 (IANS) Bank of England (BOE) unveiled plans for stress testing of British banks which could see increases in the amount of capital they are obliged to hold.

London, Oct 2 — Bank of England (BOE) unveiled plans for stress testing of British banks which could see increases in the amount of capital they are obliged to hold.

"Looking to 2014 and beyond, the Bank and Prudential Regulation Authority (PRA) should develop proposals for regular stress testing of the British banking system. The purpose of those tests would be to assess the system's capital adequacy," the bank said in a paper.

The bank's position as spelt out in a discussion paper that follows recommendations from the Financial Policy Committee (FPC) of the BOE in March 2013, Xinhua reported Tuesday.

Details include the expected coverage of institutions, considerations around scenario design, and the approach to modelling the impact of scenarios on bank profitability and capital ratios.

It discusses how the outputs of stress tests could be used to inform policy decisions and options around disclosure of stress test results.

The BOE has already been running stress tests on banks on an ad hoc basis in the wake of the 2008 financial crisis.

In a speech Tuesday in London, BOE deputy governor Paul Tucker examined how a clear framework for stress testing banks and other key financial institutions can help micro and macro-prudential regulators.

Tucker said a "stress testing regime can enhance the quality of the bank's macro and micro prudential supervision and over time, underpin confidence in the banking system".

"Policymakers need a good framework for assessing banks' capital adequacy in different circumstances, both at the level of the system a whole and for individual firms," said Tucker.

IANS

Source: IANS

 
Update
11

13 hours ago

BoE Deputy Governor: Stop Blaming Central Bankers For Your Problems

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Bank of England deputy governor for monetary policy Ben Broadbent gave a speech this Thursday at the Society of Business Economists Annual Conference. His message was simple: stop blaming central banks for high asset prices. There's been a long-term decline in the risk-free rate of interest, he said. But you know what? It's a secular decline, and monetary policy isn't the only thing affecting markets. "Autonomous changes in monetary policy ...
Source: Business Insider   Full article at: Business Insider
 

 
Update
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1 day ago

Pound at Risk on Status-Quo BOE Minutes, US Dollar May Rise on CPI

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Talking Points: British Pound May Drop on Status-Quo Bank of England Meeting Minutes US Dollar to Rise if September’s CPI Tops Forecasts, Boosting Fed Outlook See Economic Releases Directly on Your Charts with the DailyFX News App Minutes from October’s Bank of England policy meeting headline the economic calendar in European hours. The voting pattern on the rate-setting MPC committee will be in focus, with traders keen to see if the hawks were able to in ...
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Update
9

2 days ago

Clarity From The Bank of England: Rates To Remain at 0.5%

Oct 22 2014 5:05am CDT | Source: Forbes Real Time

Bank of England policy makers take a more dovish tone as the world ...
Source: Forbes Real Time   Full article at: Forbes Real Time
 

 
Update
8

2 days ago

Bank of England keeps interest rates steady amid pessimism about global economy

Oct 22 2014 4:44am CDT | Source: Canadian Business Online

LONDON – Bank of England policymakers remain split on raising interest rates, voting 7-2 at their last meeting to maintain a record low rate of 0.5 per cent amid increasing pessimism about the global economy. Minutes from the meeting held Oct. 7-8, released Wednesday, show that policymakers opted to hold the line despite calls from some quarters to begin raising rates gradually. Martin Weale and Ian McCafferty r ...
Source: Canadian Business Online   Full article at: Canadian Business Online
 

 
Update
7

2 days ago

BOE Officials Gloomier on Economy

Oct 22 2014 4:17am CDT | Source: WSJ.com: What's News US

Bank of England officials grew gloomier about the U.K.’s economic prospects in October, citing increasing headwinds from overseas and a slowdown at home, according to minutes of this month’ ...
Source: WSJ.com: What's News US  Full article at: WSJ.com: What's News US
 

 
Update
5

2 days ago

Bank of England keeps rates steady

Oct 22 2014 4:02am CDT | Source: The Standard: China's Business Newspaper

Bank of England policymakers remain split on raising interest rates, voting 7-2 at their last meeting to maintain a record low rate of 0.5 percent ...
Source: The Standard: China's Business Newspaper   Full article at: The Standard: China's Business Newspaper
 

 
Update
4

2 days ago

London Markets: FTSE 100 hugs the flat line ahead of BOE minutes

Oct 22 2014 2:43am CDT | Source: MarketWatch

The U.K. benchmark is little changed, as investors wait for minutes from the Bank of England’ and with shares of British American Tobacco adding pressure after a lackluster trad ...
Source: MarketWatch   Full article at: MarketWatch
 

 
Update
3

4 days ago

VIDEO: 'CHAPS problem delayed my move'

Oct 20 2014 2:41pm CDT | Source: BBC News

House movers, including Aidan Myles from Chorlton, faced delays after the Bank of England stopped an automated system that transfers billions of poun ...
Source: BBC News   Full article at: BBC News
 

 
Update
2

4 days ago

Chaps Back Online and Extends Payments Processing Time After IT Failure

Oct 20 2014 10:15am CDT | Source: IBTimes UK

The Bank of England's Chaps system is now processing the backlog of p ...
Source: IBTimes UK   Full article at: IBTimes UK
 

 
Update
1

4 days ago

BOE Partially Suspends Payment System

Oct 20 2014 7:21am CDT | Source: WSJ.com: Europe Home

The Bank of England has partially suspended the use of a key payments system following a technical probl ...
Source: WSJ.com: Europe Home   Full article at: WSJ.com: Europe Home
 

 

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