Bank Underground

Bank Underground

Bank of England

Bank Underground is a blog written by staff at the Bank of England. On Bank Underground, authors write in an individual capacity and there is no “house view”.


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Bank of England · 19 November 2024 English

Rhea Mirchandani and Steve Blaxland Supervisors are responsible for ensuring the safety and soundness of firms and avoiding their disorderly failure which has systemic consequences, while managing increasingly voluminous data …


Bank of England · 14 November 2024 English

Aly Soliman Stablecoins have emerged as an innovative form of money in the financial landscape. While they represent a small fraction of the global financial system, stablecoins have grown by …


Bank of England · 13 November 2024 English

David Elliott, Ralf Meisenzahl and José-Luis Peydró Capital flows and credit growth are strongly correlated across countries. Macroeconomic evidence suggests that this ‘global financial cycle’ is largely driven by US …


Bank of England · 23 October 2024 English

Francesca Diluiso and Aydan Dogan To achieve the emissions reduction targets outlined in The Paris Agreement, many economies have started implementing various types of climate policies. These policies, which include …


Bank of England · 17 October 2024 English

James Waddell and Meghna Shrestha An increasing number of households in the UK are opting for longer-term mortgages, with the share of borrowers taking out new mortgages with terms 30 …


Bank of England · 10 October 2024 English

Aly Soliman The insurance industry, sometimes perceived as slow to innovate, might witness a major transformation. Blockchain technology, known for its secure and transparent digital ledger, has the potential to …


Bank of England · 9 October 2024 English

Gabija Zemaityte The Tony Blair Institute for Global Change, among others, has argued that long-term fixed-rate mortgages (LTFRMs) could increase home ownership in the UK. The share of mortgages with …


Bank of England · 3 October 2024 English

Ioana Neamțu, Umang Khetan, Jian Li and Ishita Sen What do the 2023 Silicon Valley Bank collapse and the 2022 UK pension fund crisis have in common? Interest rate risk. …


Bank of England · 26 September 2024 English

James Duffy and James Sanders Understanding a payment’s journey around the globe can be difficult. As the operator of the UK’s high-value payment system (CHAPS), the Bank is all too …


Bank of England · 25 September 2024 English

Neha Bora, Sarah Burkinshaw, Alice Crundwell and Tuli Saha Private equity (PE) has rapidly become an important source of financing for UK businesses. Funds use pools of capital, largely from …