Archive | Bank of England

Bank of England: Raising rates is outside of “political reality”. Wait… what?

Mark Carney shot back a direct refusal to the BIS’ recommendation to raise rates today, saying “Raising rates is outside of political and economic reality”. Mark Carney has rejected calls by the Bank for International Settlements (BIS) for a swift return to normal interest rates, lambasting the lauded Swiss institution for operating “in a vacuum” and “outside political and […]

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They learned nothing: The Bank of England is already pushing for more banking deregulation

Even though the Basel banking-regulations are adhered to by all European banks, England’s largest banks have special permissions to use custom “bespoke” models when calculating their loan-loss reserve requirements rather than the standard Basel risk-weights that smaller banks are forced to use. What does this mean?  It means large UK banks have an enormous advantage over smaller banks as they don’t […]

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