Bank of England

The Bank of England is independent, from the UK government, but that doesn’t mean we’re not held to account. 🏛️ We regularly report to Parliament, answering questions from MPs on key issues like inflation, the economy, and financial stability. Through regular reports and committee hearings, we stay transparent and accountable. 📊🔍

Read a roundup of the latest news from the Prudential Regulation Authority (PRA). This edition includes: • PS4/25 – Financial Services Compensation Scheme (FSCS) Management Expenses Levy Limit (MELL) 2025/26 • CP2/25 – Leverage Ratio: changes to the retail deposits threshold for application of the requirement • CP3/25 – Recognised exchanges policy and transfer of main indices • CP4/25 – Depositor protection • CP5/25 – Margin requirements for non-centrally cleared derivatives: Amendments to BTS 2016/2251 Read here: https://b-o-e.uk/3QYrENR #PRARegulatoryDigest

#DidYouKnow ❓ We hold the gold reserves of the UK and other central banks safely and securely. 🔒    As a global gold trading hub, London helps facilitate international trade and the Bank of England allows central banks to access this market.    The gold reserves serve as a secure asset, supporting the UK’s financial system and providing confidence to markets worldwide. 

The Prudential Regulation Authority (PRA) has today proposed to raise the deposit protection limit of the Financial Services Compensation Scheme (FSCS) from £85,000 to £110,000. The deposit protection limit – which represents the maximum amount of money the FSCS typically protects should a depositor’s bank, building society or credit union become insolvent – has been set at £85,000 since 2017. The proposed increase takes into account inflation since the limit was last changed and is designed to give consumers confidence that their money is safe if their UK-authorised bank, building society or credit union fails. If taken forward, the new limit would apply to firms that fail from 1 December 2025. Sam Woods, Deputy Governor for Prudential Regulation and CEO of the PRA, said: “Confidence in our financial system is an essential foundation for economic growth. We want to support confidence in our banks, building societies and credit unions by raising the amount that people can keep in their account which is covered by the deposit guarantee scheme to £110,000 per person, so all that money is safe even if the firm fails.” This proposal comes as part of a wide-ranging consultation on deposit protection provided by the FSCS. The consultation is open until 30 June. Respond to the consultation paper and read the full news release here: https://b-o-e.uk/42mReCy

From managing a fine dining restaurant to analysing financial crime, Lily made a bold career switch and achieved a better work-life balance.    She now uses the skills she honed under pressure to make risk-based decisions at the Bank.    Outside of work, she enjoys baking 🧁 in her kitchen or going for a run. 💨    Would you consider a career change?

Last days to apply for our Innovation Competition! ⏰   If you are a student in the UK, aged 16 and over, don't miss out on the chance to win a paid internship this summer.🌟   You can work from our offices in Leeds or London, or even virtually from anywhere in the UK.   Apply now and kickstart your career 👉 https://lnkd.in/eqY3WUNJ   🗓️ Applications close midnight, Monday, 31st March 2025 #BankofEngland

In her speech, Victoria highlights the Bank of England's involvement in innovation in wholesale payments. She discusses the importance of modernising infrastructure, expanding access to the Real Time Gross Settlement service, benefitting from adopting ISO 20022 enhanced data, and engaging in experimentation. Working closely with industry, these initiatives can enhance efficiency, resilience, and inclusivity in the payments landscape. Read her speech in full here: https://b-o-e.uk/4iZJVGv

Andrew’s speech looks at economic growth and asks what it takes to increase the rate of growth in the economy. In answering that question, Andrew covers both the current situation in the UK and abroad, and economic history. Read his speech in full here: https://b-o-e.uk/4iAsbBN

Looking to develop your career in the banking or financial sectors? Join our Online Open Event and discover how our flexible Global Central Banking & Financial Regulation qualifications, delivered in collaboration with the Bank of England, can support you to achieve your professional goals. Register now: https://ow.ly/QcIw50VlgHp

What is legal tender? 💷 ‘Many people are confused about what legal tender means. It’s actually about settling debts rather than how you can pay for things.’ Help others learn more about money and how the economy works by sharing our short explainers. 👌 🔗 https://b-o-e.uk/4ccnCLL