Banking

David Elliott, Ralf Meisenzahl and José-Luis Peydró Capital flows and credit growth are strongly correlated across countries. Macroeconomic evidence suggests that this ‘global financial cycle’ is largely driven by US monetary policy: expansionary policy by the Federal Reserve drives increases in lending globally, while contractionary Fed policy leads to a tightening of global financial conditions. … Continue reading Nonbank lenders as global shock absorbers →

Gabija Zemaityte The Tony Blair Institute for Global Change, among others, has argued that long-term fixed-rate mortgages (LTFRMs) could increase home ownership in the UK. The share of mortgages with longer fixes increased in the UK and internationally over the last decade. Persistently low interest rates over that period have supported demand for longer-fix products, … Continue reading Long-term fixed-rate mortgages through an international lens: could they lead to higher home ownership? →

James Duffy and James Sanders Understanding a payment’s journey around the globe can be difficult. As the operator of the UK’s high-value payment system (CHAPS), the Bank is all too familiar with this challenge. By leveraging the benefits of the newly introduced ISO 20022 standard for messaging, we have devised a new methodology to identify … Continue reading Payments without borders: using ISO 20022 to identify cross-border payments in CHAPS →

Joanna McLafferty, Kirstine McMillan and Joseph Smart On 7 May 2024 the SONIA rate, the UK’s risk-free reference rate, printed at exactly 5.2000% and has remained there to the end of July 2024 (the time of writing). Flatlining of SONIA is not a phenomenon we see often. Prior to this, over the past six years … Continue reading SONIA: steady as she goes →

Chris Blackhurst unpacks the NatWest scandal that toppled the first woman to head a High Street bank.

The Environment Agency vowed that its pension fund would be going green – Byline Times' analysis suggests this has not been the case

The party's U-turn on the bankers' bonus cap comes just months after the party campaigned against scrapping it

Despite Government calls for pay restraint, new figures show some people are doing very well out of the cost of living crisis, writes Josiah Mortimer

Matt Bernardini reveals the Russian-linked Fintech companies that continue to operate from the UK, despite being sanctioned elsewhere for their ties to the country

There have been growing concerns among regulators about the potential misuse of sustainability-linked loans