Bank of England
Sales sets out five-stage framework for mutual transfers
Prudential Regulation Authority official Manuel Sales set out supervisory expectations for friendly society Part VIII transfers under consultation CP12/26 at the Association of Financial Mutuals conference.
Focus
Conceicao and Justham join Bank enforcement committee
The Bank of England has appointed Carlos Conceicao and Alexander Justham as members of its Enforcement Decision Making Committee with effect from September 2026.
Commercial banknote backing requirement falls to £7.89 billion
The backing requirement for banknotes issued by six commercial banks in Scotland and Northern Ireland fell 0.97 percent to £7.89 billion at end-February 2026.
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Settlement in central bank money targeted for 2028, Mills says
Digital asset platforms will be able to settle in central bank money by 2028 under a new synchronisation capability, Bank of England Executive Director Sasha Mills said on October 1, 2026.
Court approves frontier AI funding and banknote asset reforms
The Bank of England Court of Directors has approved additional investment to tackle frontier AI challenges and agreed on new backing-asset arrangements for banknotes.
Mann urges Bank Rate increases to tighten real financial conditions
Bank of England policymaker Catherine Mann warned that UK monetary policy is not sufficiently tight, citing loose real financial conditions.
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High-growth sectors receive under 30 percent of UK SME bank credit
Sectors with the highest concentration of high-growth firms account for less than 30 percent of UK bank lending to small businesses, according to a Bank of England study.
Central clearing can cut dealer gilt repo exposures by 60 percent
Bank of England Executive Director Nathanaël Benjamin outlined risks from non-bank leverage and pledged policy proposals for gilt repo resilience in early 2027.
Liquidity framework policy statement postponed to early 2027
Postponement of the policy statement on modernising the liquidity framework to the first quarter of 2027 highlights the Prudential Regulation Authority's September digest.
Banks must tighten IFRS 9 data controls and climate models
The Prudential Regulation Authority published thematic feedback on major UK banks' IFRS 9 expected credit loss accounting on September 30, 2026.
AI risk citations rise to 63 percent in UK financial survey
UK financial institutions cited artificial intelligence risks at 63 percent, up 32 percentage points from the prior survey, in the Bank of England 2026 H2 Systemic Risk Survey.
Capital buffer kept at 2 percent as AI debt and sovereign yields rise
The Bank of England Financial Policy Committee maintained the UK countercyclical capital buffer rate at 2 percent at its September 25 meeting.