Bank governance at odds with its history
The Bank of England faced another bruising on Tuesday morning over the Treasury Select Committee’s claim that it lacks proper accountability.
The Treasury committee’s case for a supervisory board to replace the Bank’s Court is strong.
But it is ironic that the Bank is coming in for so much flack for its poor corporate governance given that Threadneedle Street spearheaded much of the improvements that have taken place in private companies in recent decades. Read more
Live blog: Financial Stability Report hearing
Hello and welcome to today’s live blog on the Treasury Select Committee’s hearing for the Bank of England’s Financial Stability Report.
The governor will be giving evidence, as will executive director for financial stability Andy Haldane, and external Financial Policy Committee members Michael Cohrs and Robert Jenkins.
This post should update automatically every few minutes, although it may take longer on a mobile device. All times are London time.
13.18 The live blog is now closed.
13.17 Here are the key takeaways from today’s hearing:
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Chris Giles has been the economics editor of the Financial Times since 2004. Based in London, he writes about international economic trends and the British economy. Before reporting economics for the Financial Times, he wrote editorials for the paper, reported for the BBC, worked as a regulator of the broadcasting industry and undertook research for the Institute for Fiscal Studies. RSS
Michael Steen, Frankfurt bureau chief, covers the ECB and the eurozone's economies. He joined the Financial Times in 2007 as Amsterdam correspondent and later worked as a front page news editor in London. Before joining the FT, he spent nine years as a correspondent at Reuters, mostly in foreign postings that included a previous stint in Frankfurt, as well as Moscow, Kiev and central Asia. He read German and Russian at Cambridge.RSS
Robin Harding is the FT's US economics editor, based in Washington. Prior to this, he was based in Tokyo, covering the Bank of Japan and Japan's technology sector, and in London as an economics leader writer. Robin studied economics at Cambridge and has a masters in economics from Hitotsubashi University, where he was a Monbusho scholar. Before joining the FT, Robin worked in asset management and banking. RSS
Ralph Atkins, capital markets editor, has been writing for the Financial Times for more than 20 years following an economics degree from Cambridge. From 2004 to 2012, Ralph was Frankfurt bureau chief, watching the European Central Bank and eurozone economies. He has also worked in Bonn, Berlin, Jerusalem and Brussels. RSS
Claire Jones is Money Supply economics team writer, based in London. Before joining the Financial Times, she was the editor of the Central Banking journal and CentralBanking.com. Claire studied philosophy and economics at the London School of Economics. RSS
