The Bank of England (BoE) has published a policy statement (PS) and a supervisory statement (SS) on its Fundamental Rules for financial market infrastructure (FMI) firms. The rules set out the outcomes that the BoE expects from FMIs, including with regard to their financial resources, operational resilience and the actions they should take to understand and manage the risk they may pose to the stability of the financial system. The BoE has also published its supervisory approach to onboarding new FMI firms that fall within its regulatory remit.

The Bank of England (BoE) has published minutes from the London Foreign Exchange Joint Standing Committee (FXJSC) Legal Sub-Committee meeting on 4 March 2021. The FXJSC is made up of market participants, infrastructure providers and the UK financial regulators. Discussion points included diversity and inclusion in the FX market, legal and regulatory issues, and progressing the FX Global Code (Code) three-year review.

The Bank of England (BoE) has published Financial Stability in Focus, setting out the Financial Policy Committee (FPC)’s macroprudential approach to operational resilience, along with the Financial Policy Summary and Record for March 2024. The BoE has also published the biannual Systemic Risk Survey, which quantifies and tracks market participants’ views of risks to, and their confidence in, the stability of the UK financial system.

The Bank of England (BoE) has published a policy statement (PS) providing feedback to responses to its consultation paper (CP) on its proposed approach to its power to temporarily restrict or prohibit discretionary payments to employees or shareholders of recognised UK central counterparties (CCPs) in severe circumstances. A final statement of policy (SoP) is included in the annex. The final SoP will enter into effect from 16 February 2024. The BoE will be able to use the power from this date.

The Bank of England (BoE) has issued a policy statement on its fees regime for UK financial market infrastructures (FMIs), encompassing UK central securities depositories (CSDs), recognised payment systems and specified service providers to recognised payment systems.

The Bank of England (BoE) has published banking sector regulatory capital statistics for Q2 2024, showing levels of capital and risk-weighted assets for the UK banking sector. It includes breakdowns of the movements in different tiers of capital and risk exposure types, and overall capital ratios.

The Bank of England (BoE) has published a report assessing the technical feasibility of implementing offline payment functionality for a digital pound. The project involved collaboration with Thales, Secretarium, IDEMIA Secure Transactions, Quali-Sign, and Consult Hyperion to evaluate different offline payment solutions. While the findings show that it might be technically feasible, significant challenges exist, particularly concerning user experience and the prevention of double spending and counterfeiting. The feasibility of various technology choices for offline payments depends on policy decisions related to risk appetite, product proposition, and liability. No final decision has been made on implementing offline payment functionality for a digital pound.

The Bank of England (BoE) has issued a report on the transfer of Silicon Valley Bank UK Limited (SVB UK) to HSBC UK Bank Plc (HSBC) by the BoE under section 79A of the Banking Act 2009. The report provides details on the background, timeline of events, valuation, compensation, and the rationale behind the transfer to ensure the continuity of banking services and the protection of public funds. The report supplements evidence provided to the Treasury Committee by the BoE.

The Bank of England (BoE) has published the results of the 2024 firm feedback survey, which received responses from 303 of 436 sampled Prudential Regulation Authority (PRA)-authorised firms. The survey invited feedback on the PRA’s understanding of firms, firms’ understanding of the PRA’s regulatory objectives and expectations, the effectiveness of its relationship with firms, coordination with other regulators, and potential areas for improvement, among others. Overall, the findings indicated higher average scores across most topics compared to 2023. Firms rated the effectiveness of their relationship with the PRA most positively, while scores relating to the PRA’s regulatory framework, rules and policies were comparatively lower. Key areas identified for further improvement include improved coordination with other regulators, such as the FCA and international regulators, greater transparency regarding supervisory work plans, and a more streamlined process for PRA specialist engagement. The 2025 survey is expected to be issued to firms in August 2025.

The Bank of England (BoE) has published its second assessment for each of the eight major UK banks under the Resolvability Assessment Framework (RAF). The assessment finds major UK banks have continued to make progress in improving their preparations for resolution, including embedding resolution preparations into their everyday business, and in addressing issues outstanding from the first assessment in 2022.

The Bank of England (BoE) has published a speech by Lee Foulger, the Director of Financial Stability, Strategy and Risk at the BoE, which outlines the key conclusions from the System-Wide Exploratory Scenario (SWES) exercise regarding the resilience of core UK markets and how the behavior of market participants, while individually rational, can collectively pose risks. He highlights the importance of adopting a system-wide perspective when assessing risks to financial stability to identify potential vulnerabilities that sector-specific exercises might bypass or overlook.

The Bank of England (BoE) has published a speech by its deputy governor, Sarah Breeden, on the potential implications of artificial intelligence (AI), particularly generative AI, on financial stability. The BoE does not yet see an immediate need to change its technology-agnostic microprudential approach or introduce macroprudential policies specifically for AI. However, given the rapid growth of AI power and usage, it calls for a cautious and prepared approach. The BoE is launching an AI Consortium with the private sector and industry experts to better understand AI's potential benefits and risks.