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.

The Bank of England (BoE) has published a speech by Gareth Truran on the proposed UK regime for critical third parties, covering the regime’s objectives, its key features and some of the requirements which are being proposed.

The Bank of England (BoE) has confirmed changes to its Indexed Long-Term Repo (ILTR) operations, effective from 17 June 2025, to support its transition to a repo-led, demand-driven framework for supplying reserves. A modest spread increase for Level A collateral will take effect in November 2025. The recalibration follows feedback from the BoE’s December 2024 discussion paper. The ILTR will continue as a weekly, variable price and size auction with uniform pricing. The changes aim to enhance flexibility and predictability while ensuring sufficient liquidity provision.

The Bank of England (BoE) has published a Discussion Paper outlining plans to recalibrate the Indexed Long-Term Repo (ILTR) facility as part of its transition to a demand-driven, repo-led framework for supplying reserves. In light of this, the Prudential Regulation Authority (PRA) has issued a statement encouraging firms to engage with the proposals and test their operational readiness for accessing the ILTR. Changes to the ILTR are set to take effect in 2025.

The Bank of England (BoE) has renewed its Statement of Commitment to the FX Global Code, confirming that it acts as a Market Participant and is committed to aligning its foreign exchange (FX) market activities with the principles of the revised Code, published in December 2024. The BoE states it has taken appropriate steps, proportionate to the size and complexity of its activities, to ensure consistency with the Code’s standards of good practice in the wholesale FX market.

The Bank of England (BoE) has published a Market Notice detailing the change in Collateral Eligibility Criteria for Regulated Covered Bonds in the Bank’s Sterling Monetary Framework. From 1 September 2024, to be eligible as Level B collateral, the minimum original issue size of a UK, French or German Regulated Covered Bond will be lowered to £500m or €500m (from £1bn or €1bn).