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10.07.26 - 16:48
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Bank of England handed powers to regulate key tech firms including Amazon and Google (The Guardian)
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Direct oversight of 'critical third parties' such as Oracle and Microsoft given to ensure resilient cyber-defences and help safeguard UK economyThe Bank of England has been handed powers to regulate important tech firms including Amazon and Google from next week, amid fears that system failures could threaten financial stability and harm consumers.From Monday, the Bank and fellow City regulator the Financial Conduct Authority (FCA) will be in charge of ensuring that four large-scale providers of cloud and tech services to banks are resilient and actively reducing the risk of cyber-attacks and major outages that could disrupt services for millions of people and businesses across the UK. Continue reading......
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07.07.26 - 12:48
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BoE plans to ease capital rules despite fears on AI stability threat (The Guardian)
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Bank of England financial policy committee members voice concern on trimming lenders' financial buffersBusiness live – latest updatesThe Bank of England is planning to loosen capital requirements for major UK lenders, even as policymakers expressed concern about the threat to financial stability from rapid AI developments and debt-fuelled stock investments.The central bank said on Tuesday it was looking to remove and loosen some rules introduced after the 2008 financial crisis that determine the size of the financial cushion required to absorb losses and protect consumers and taxpayers when things go wrong. Continue reading......
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07.07.26 - 12:01
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BOE Lifts Veil on Private Financing of 520 British Companies (Bloomberg)
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Alternative asset managers have given the Bank of England detailed information on their investments in 520 UK corporates with revenue of more than £230 billion ($308 billion), as part of the watchdog's probe into potential economic fallout from a private markets crash....
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