Martyn Beauchamp appointed as CEO of FSCS
The Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) have appointed Martyn Beauchamp as Chief Executive Officer (CEO) of the Financial Services Compensation Scheme (FSCS).
The Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) have appointed Martyn Beauchamp as Chief Executive Officer (CEO) of the Financial Services Compensation Scheme (FSCS).
The Prudential Regulation Authority (PRA) is consulting on changing the retail deposits leverage ratio threshold to £70 billion – an increase of £20 billion.
Jeffrey S. AllenPayment fraud has been high in recent years, and as criminals gain access to capability-enhancing generative AI tools, there is a growing need for innovative fraud detection research. However, the pace, diversity, and reproducibility of such research are inhibited by the dearth of publicly available payment transaction data. A few payment simulation methodologies have been developed to help narrow the payment transaction data gap without compromising important data privacy and security expectations.
Sebastian Heise, Justin R. Pierce, Georg Schaur, and Peter K. SchottHeise et al. (2021) develop a model-based empirical measure—sellers per shipment (SPS)—to characterize how firms organize supply chains in response to a quality control problem. High SPS indicates spot-market purchasing with costly inspections, while low SPS suggests long-term relationships where buyers pay an incentive premium to prevent cheating.
The Bank's Court of Directors acts as a unitary board, setting the organisation's strategy and budget and taking key decisions on resourcing and appointments. Required to meet a minimum seven times per year, it has five executive members from the Bank and up to nine non-executive members.
Large-scale debt forbearance is a key policy tool during crises, yet targeting is challenging due to information asymmetries. Using transaction-level data from a Portuguese bank during COVID-19, we find that financially fragile households are more likely to enter forbearance, irrespective of income shocks. Mortgage payment suspension increases consumption and savings, but effects differ across households. Low liquid wealth and income are associated with a higher marginal propensity to consume.
This paper provides an overview of recent analytical work conducted, under their own aegis, by experts from various European authorities and institutions in the field of crypto-asset monitoring. Currently, risks stemming from crypto-assets and the potential implications for central banking domains are limited and/or manageable, including as regards the existing regulatory and oversight frameworks. Nevertheless, the importance of monitoring developments in crypto-assets, raising awareness of the potential risks and fostering preparedness cannot be overstated.
Large-scale debt forbearance is a key policy tool during crises, yet targeting is challenging due to information asymmetries. Using transaction-level data from a Portuguese bank during COVID-19, we find that financially fragile households are more likely to enter forbearance, irrespective of income shocks. Mortgage payment suspension increases consumption and savings, but effects differ across households. Low liquid wealth and income are associated with a higher marginal propensity to consume.
Shengwu Du and Travis D. NesmithFiltered historical simulation (FHS)—a simple method of calculating Value-at-Risk that reacts quickly to changes in market volatility—is a popular method for calculating margin at central counterparties. However, FHS does not address how correlation can vary through time.
Dr. Swati Dhingra has been reappointed as an external member to the Monetary Policy Committee (MPC), the Chancellor of the Exchequer, Rachel Reeves, has announced.