A global payments issue that was affecting the Bank of England's CHAPS service and delaying some high value and time-sensitive payments is now resolved. Read more: https://b-o-e.uk/4d5Ewea
Bank of England
Banking
As the UK's central bank we work to ensure low inflation, trust in banknotes and a stable financial system.
About us
The Bank of England is the central bank of the United Kingdom. Sometimes known as the “Old Lady” of Threadneedle Street, the Bank was founded in 1694 with a founding charter that stated its purpose was to “promote the public good and benefit of our people”. The Bank of England’s purpose today reflects that vision first articulated by our founders. Our mission: to promote the good of the people of the United Kingdom by maintaining monetary and financial stability.
- Website
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http://www.bankofengland.co.uk
External link for Bank of England
- Industry
- Banking
- Company size
- 1,001-5,000 employees
- Headquarters
- London
- Type
- Government Agency
- Founded
- 1694
Locations
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Primary
Threadneedle Street
London, EC2R 8AH, GB
Employees at Bank of England
Updates
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A global payments issue is affecting the Bank of England’s CHAPS service and delaying some high value and time-sensitive payments. We are working closely with a third party supplier, industry and other authorities to resolve the issue. https://b-o-e.uk/4cRtTfm
CHAPS payments issue
bankofengland.co.uk
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In his speech, Nathanaël explains how exchanging collateral as security has become the norm between financial market counterparties. That has made the system much safer. But Nathanaël highlights that counterparties need to be prepared for the potential liquidity need from sharp margin calls in stress. And enough collateral has to be collected during good times, via initial margin or haircuts, otherwise that can allow the build-up of excessive leverage, which can unravel and destabilise the system in bad times. Read Nathanaël's speech in full here: https://b-o-e.uk/3Scx8p6
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Join us for a virtual Q&A with our Chief Economist, Huw Pill. Ask him your questions about the cost of living and the economy. Thursday, 1 August at 5:15 – 6:15pm. Find out more and register here: https://b-o-e.uk/4f6RnhI
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We've achieved a Stonewall 'Top 100 Employers' for LGBTQ+ people gold award. The award recognises the commitment shown by organisations across the UK to create an inclusive workplace. Learn more about the award here: https://b-o-e.uk/3xZKdLD
Top 100 Employers 2024
stonewall.org.uk
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Understanding how monetary policy affects the economy is essential for the Bank of England’s Monetary Policy Committee (MPC) to deliver on its price stability mandate. This article outlines the Bank of England’s staff view of the impact that changes – and expected future changes – in the Bank’s interest rate is believed to have on key UK variables – such as economic activity and inflation – which in turn has informed MPC policy discussions. Read the article here: https://b-o-e.uk/3WgxQUS
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Together with the Financial Conduct Authority, following our second consultation, we have published our finalised guidance to support implementation of the amended UK European Market infrastructure Regulation (UK EMIR) reporting requirements that will go-live on 30 September 2024. The guidance is in the form of Questions and Answers (Q&As), grouped into relevant topics. You can find out more details on this here: https://b-o-e.uk/3Lo4C05
UK EMIR Reporting Q&As (applicable from 30 September 2024)
bankofengland.co.uk
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In his speech, James sets out the Bank of England’s new data & analytics strategy, including our goals, recent successes and the plan ahead. A new cloud enterprise data platform will be built and launched over the coming year. The success of the strategy is about people with strong partnerships and broad-based training to make it work for everyone. Read his speech in full here: https://b-o-e.uk/3zGmUao
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We are delighted to announce that Tom Shropshire and Afua Kyei have both featured in the Empower Executives Role Model List 2024 supported by YouTube! Tom has been recognised as the number one executive role model, and Afua as the second top executive (leading female) globally. Tom is the Bank's Non-executive Director, Court of Directors, and Afua Kyei is the Bank’s Chief Financial Officer, Finance Executive Director. The global Empower Role Model Lists showcase leaders who are breaking down barriers at work and paving the way when it comes to increasing representation and driving inclusion for others within the workplace. Role Models featured in the Empower Role Model Lists do not work professionally in Equality, diversity and inclusion roles. Instead, they represent the wide range of individuals who have made it their personal mission to make a difference. You can view the Empower Executives List in full here: https://b-o-e.uk/4bCkUwP Read Afua’s speech at the Empower launch event here: https://b-o-e.uk/4cwOqpl
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Speaking at Asia House today, Huw discussed the transformation underway at the Bank of England, in how monetary policy decisions are prepared and taken. Ex-Federal Reserve Chair, Ben Bernanke, has identified a number of areas where the Bank of England has work to do. In addressing those challenges, the Bank of England must retain the successful elements of its existing policy framework, while remaining open-minded to learning from the experience and expertise of others. Read Huw's speech in full here: https://b-o-e.uk/4cTYXKL