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We now have the essential plumbing in place to move climate change from the fringes to the forefront of finance so that every financial decision takes climate change into account.
Found on CNN 1 year ago
This is the breakthrough in mainstreaming climate finance the world needs, most fundamentally, GFANZ will act as the strategic forum to ensure the financial system works together to broaden, deepen, and accelerate the transition to a net zero economy.
Found on Reuters 1 year ago
The Bank is coordinating its actions with those that the Chancellor will announce later today in the budget in order to ensure that our initiatives are complementary and that they will collectively have maximum impact consistent with our independent responsibilities.
This is a big package. It's a big package. It is a big deal to cut the CCYB by as much as the FPC did. It's a huge term funding certainty for the financial sector, 100 billion at bank rate, with additional incentives and potentially could be substantially increased depending on the lending path of the economy, and on top of it there are fiscal measures that are coming. We have direct line of sight of the relevant bits of the budget. That's part of the coordination.
The Bank of England's role is to help UK businesses and households manage through an economic shock that could prove large and sharp but should be temporary, the Bank's why The Bank is announcing today a comprehensive and timely package of measures to help UK households and businesses bridge across the economic disruption caused by COVID-19. These measures will help keep firms in business and people in jobs and they will prevent a temporary disruption from causing longer-lasting economic harm.
It will pass, the medical situation will pass. With time there will be a vaccine, the spread of the virus will be arrested. We don't know exactly what that period of time is, nor do the expert epidemiologists, they talk in terms of scenarios and probabilities, quite rightly so, we have the resilience in the system that has been built up over a decade that can withstand all of those scenarios.
The Bank is coordinating The Bank actions with those that the Chancellor will announce later today in the budget in order to ensure that our initiatives are complementary and that they will collectively have maximum impact consistent with our independent responsibilities, we have anecdotal evidence that we're building up through our agency network and our direct contacts with businesses, where we have seen a sharp fall in trading conditions, particularly in retail, consumer discretionary items over the course of the last week.
In terms of forward looking, I will just note the statement that The Bank will take all necessary further actions, there is a regular schedule of meetings and the MPC will be meeting again late this month, there's no change to that, this is a special - this has been a special meeting and a special action but it doesn't change the schedule in any sense... this will be under constant review and consideration.
We have anecdotal evidence that we're building up through our agency network and our direct contacts with businesses, where we have seen a sharp fall in trading conditions, particularly in retail, consumer discretionary items over the course of the last week.
There is no reason for this shock to turn into the experience of 2008 and a virtual lost decade in a number of economies if we handle it well.
This is a big package. It's a big package. It is a big deal.
I was there in 2008, I was part of the co-ordinated interest rate cut, along with the Bank of England and effectively the G10 at the time and let me tell you: we did that to get to the weekend, we're in a different place. This is not about making it to a weekend.
The Bank of England's role is to help UK businesses and households manage through an economic shock that could prove large and sharp but should be temporary, this is a big package. It's a big package. It is a big deal.
Climate disclosure must become comprehensive, climate risk management must be transformed, and sustainable investing must go mainstream.
This will affect the value - in some cases positively, in some case negatively - of every single financial asset.
We, the Fed, all the major global central banks and supervisors, would have direct regulatory (oversight).
Expanding access can improve the transmission of monetary policy and increase competition.
The Bank of England approaches Libra with an open mind but not an open door, unlike social media ... the terms of engagement for innovations such as Libra must be adopted in advance of any launch.
It has to be safe, or it's not going to happen, we, the Fed, all the major global central banks and supervisors, would have direct regulatory (oversight).
You will have to wait until 2026 to find out which MPC member's knowledge of football matches their understanding of the UK economy.
Found on Reuters 4 years ago
The UK relies on the kindness of strangers at a time when risks to trade, investment, and financial fragmentation have increased.
Found on Reuters 5 years ago
It means that three quarters of UK banks, accounting for 90 percent of the stock of UK lending, will immediately have greater flexibility to supply credit to UK households and firms.
We are going through all our banks to make sure their contingency plans are the best that one can tell, are appropriate, we have stress-tested those institutions over the course of the last few years, against not this shock per se, but for elements of a related shock.
Evidence is mixed, and the baseline for comparison should not be the unsustainable excess liquidity that existed prior to the crisis.
Countries must now put in place the legislative and regulatory frameworks for these tools to be used.
As a consequence, the financing capacity to the real economy is being rebuilt and significant retrenchment from international activity has been avoided.
It runs in the family simply because each generation has the same diet and lifestyle that the previous generation did.
If someone is really motivated and they truly don’t have familial combined hyperlipidemia, it’s almost a guarantee that through aggressive nutrition they can lower their numbers dramatically.
A person can have the most beautiful lipid panel but they can have an elevated Lp-PLA2 which puts them at a very high risk for having a cardiac event.
Different organ systems manifest in different parts of the body and it’s the kidneys that manifests on the hair on our head.
To be clear, more expensive liquidity is a price well worth paying for making the core of the system more robust, removing public subsidies is absolutely necessary for real markets to exist. Volatility characterizes such real markets and much of the pre-crisis market-making capacity among dealers was ephemeral.
The design of these notes must command respect and legitimacy, and should inspire.
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