The Bank of England asked banks on Monday for information about their readiness for the possibility of zero or negative interest rates, following up on its announcement last month that it was considering how to take rates below zero if needed.
“As part of this work, we are requesting specific information about your firm’s current readiness to deal with a zero Bank Rate, a negative Bank Rate, or a tiered system
of reserves remuneration – and the steps that you would need to take to prepare for the implementation of these,” Deputy BoE Governor Sam Woods said in a letter to banks.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
How Banks Can Grow Like Bank Of America, Chase, And Wells Fargo: The Reacquisition ImperativeCovid may be driving up mobile banking adoption, but 66% of consumers are completely disengaged from their banks. Financial institutions can’t rely on just attracting a new batch of highly engaged consumers—they must reacquire customers by increasing engagement to jump-start relationship growth.
Read more »
China's central bank to cut FX risk reserve ratio to zeroChina's central bank said it will lower the reserve requirement ratio for financial institutions when conducting some foreign exchange forwards trading to zero with effect from Monday.
Read more »
ECB's Visco says bank needs symmetrical inflation target, more transparency: newspaperBoard member Ignazio Visco said the European Central Bank should set a clearer inflation target and should attribute the opinions published in its minutes to the relevant policymakers for greater transparency.
Read more »
BMO Harris review: A solid brick-and-mortar bank with competitive interest rates on CDs - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »
JPMorgan and 5 Other Big Banks Report Earnings Next Week. Here’s What to Expect.Earnings are expected to drop compared with last year’s as banks contend with a sluggish, but improving, economy, and low interest rates continue to weigh on...
Read more »
How Banks Can Grow Like Bank Of America, Chase, And Wells Fargo: The Reacquisition ImperativeCovid may be driving up mobile banking adoption, but 66% of consumers are completely disengaged from their banks. Financial institutions can’t rely on just attracting a new batch of highly engaged consumers—they must reacquire customers by increasing engagement to jump-start relationship growth.
Read more »