of bank of england A “concierge service” could be established to help foreign companies do business in the UK.
This is a similar service to the Financial Times already available in Singapore. reported Monday (January 20), citing a letter from central bank governor Sam Woods. prudential regulator (PRA) to prime minister.
The UK government has told the PRA and other regulators: come up with an idea Possible rule changes that could encourage more risk-taking and investment in the economy. prime minister keir starmer He promised to “dismantle” the bureaucracy to foster growth.says the report..
Mr Woods said the PRA “recognizes and strongly supports” the government’s focus on promoting growth and “responsible risk-taking”, according to the report. However, he It became clear Its key objective remains to maintain financial stability, without which growth will suffer.
“Our main goal is primarily stability, a predictable economy where households and businesses can confidently plan ahead and make investment and hiring decisions,” he said, according to the report. It becomes the basis of the environment.”
The PRA outlines a list of measures to ease regulatory burdens, including delaying the introduction of the global Basel III agreement on bank capital in the UK, simplifying capital rules for insurers and removing caps on bank staff bonuses. did.says the report..
A similar letter was sent by the UK to the Prime Minister last week. Financial Conduct Authority Other proposals include considering loosening regulations around mortgage lending and anti-money laundering checks, the report said.
Earlier this month, Woods testified in court. House of Peers that it is possible to relax regulations on bankers without causing a “race to the bottom”; financial regulation.
this This comes as observers on the other side of the Atlantic expect the United States to ease its policies. financial regulation Under President Donald Trump.
“In the meantime, however, fundamental issues still exist, key among them being considering the risks and benefits inherent in bank-fintech partnerships, cybersecurity, capital requirements, and innovation. ,” PYMNTS wrote last month.
for example, synaptic bankruptcya problem that left tens of thousands of customers without access to their money, could continue to have ripple effects this year.
