Bank of England to hike FSCS protection from £85,000 to £110,000 March 31, 2025 UK depositors will receive greater protection from the Bank of England as the amount of money covered by a nationwide deposit guarantee scheme is set to rise to £110,000. The scheme provides financial protection to depositors in case banks, building societies, and credit unions become insolvent. It is funded by a levy paid by regulated [...]
UK proposes earlier banker bonuses in bid to boost competition November 26, 2024 UK regulators have officially laid out plans for the country’s top bankers to get their bonuses years earlier in a bid to boost competition with rival jurisdictions. The Bank of England’s Prudential Regulation Authority (PRA) and City watchdog the Financial Conduct Authority (FCA) published proposals on Tuesday to reduce the bonus deferral period for most [...]
Bank of England mulls ‘further steps’ to boost City’s global competitiveness September 26, 2024 The UK's banking regulator is mulling "further steps" to boost the City's international competitiveness as one of its top brass hailed a "broadly welcoming" response to its softening of bank capital rules.
UK’s banking regulator ‘extremely mindful’ of US on capital rules overhaul September 3, 2024 The UK’s banking regulator is “extremely mindful” of pushing ahead with a sweeping set of capital rule changes while the US’s reform package remains up in the air, its chief executive has said. Sam Woods, the deputy governor of the Bank of England and boss of the Prudential Regulation Authority, told the Following the Rules [...]
Barclays ordered to review exposure to private equity June 14, 2024 The UK's main banking regulator has reportedly instructed Barclays to review its leveraged finance unit amid growing concern over how lenders are measuring their exposure to private equity.