Andrew Bailey - Bank of England

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Last quote by Andrew Bailey

Sovereign owners are different from private sector individuals or companies – both in their motivations and in their nature. Investors have long recognized this and capital markets are well adapted to assess the treatment of other investors by sovereign countries.feedback
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Jul 13 2017
We can learn a lot about a person if we know what types of things he or she talks about or comments on the most frequently. There are numerous topics with which Andrew Bailey is associated, including UK, EU, and standard. Most recently, Andrew Bailey has been quoted saying: “My hunch is that there has been, it's become more like the US market, so it's become more of a secured finance market than it was in the past.” in the article FCA links up with US regulators in car loans probe.
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Andrew Bailey quotes

Jan 26 2017

I want to pose the question, would it be possible to take a different approach and to base market access on common recognition of higher-level global standards which are transparent and subject to regular review? If the body of global standards were to be judged sufficient, it could provide a broader basis on which market access decisions could be made. This would of course need to be supported by consideration of how such standards would be created, implemented and then overseen.feedback

Dec 13 2016

We have seen good progress towards the goals that the IPB laid out but this is not the end of the story. Firms should continue to work to ensure that value for money is being consistently delivered.feedback

Dec 09 2016

If we try to compress some later part of the timetable, we would be taking risks with the process. It obviously affects a lot of people.feedback

Dec 09 2016

It's deeply technical and we have got to get it right. We would have loved to hit the schedule... We are not going to rush it.feedback

Nov 08 2016

The UK, as a major financial center, in a sense there is a need for a commensurate degree of influence over standards.feedback

Nov 08 2016

If this is going to be based on what I call a system of equivalence, you can imagine that happening, then the setting of the equivalence standards has to be something that the UK regulators can influence.feedback

Nov 08 2016

It is more than disappointing, frankly. We do regard this as a market sensitive information.feedback

Nov 08 2016

It requires further urgent analysis to understand the broader implications of this.feedback

Nov 08 2016

When I heard about this on Sunday I thought this looked unprecedented in the UK. It's too early to give a comprehensive account of what the root causes are.feedback

Sep 28 2016

In some cases, we have seen evidence of overlapping or unclear allocation of responsibilities. In other cases firms appear to be sharing responsibility amongst more junior staff, obscuring who is genuinely responsible. This goes against the intention of the senior managers and certification regime and should not continue.feedback

Sep 28 2016

Generally, we have observed that firms are taking their responsibilities seriously and have broadly got the regime right.feedback

Jul 19 2016

These are unsettling times, and we owe it to people who work so hard to support us to put their minds at rest.feedback

Jun 26 2016 - Human Rights

I do have fears. I think that we have the bedrock of the European Convention on Human rights and that makes such a difference. It is incorporated in the UK law. So we have that but I think it is very much under threat. I think we are going to see a lot of change. We are really worried about the future here. We have rights, we have a great celebration, we have the apparent solidarity of this government. We need to have the EU support as well.feedback

May 16 2016

When people talk about regulatory independence, you have to explain it does not mean that you are on a different planet.feedback

May 16 2016

The big challenge for them is … what is called [the] bridge to engine room. How do you know what your business is doing?feedback

May 09 2016

As regulators, we are not able, and should not try, to determine the culture of firms. We cannot write a regulatory rule that settles culture. We seek to ensure that firms have robust governance, which includes appropriate challenge from all levels of the organisation. a change of culture was possible and there has been progress at the banks.feedback

Feb 03 2016 - Christmas

Since Christmas there had already been "quite marked changes" in the pricing of sterling risk options.feedback

Oct 22 2015

This forces them into riskier assets and undermines their position.feedback

Oct 22 2015

We welcome internal model applications by smaller banks and we will do what we can to help them meet the required prudential standards, which are largely set out in the EU legislation.feedback

May 12 2015

Going forward we will monitor insurers' models carefully in order to ensure they continue to deliver an appropriate level of capital.feedback

Mar 02 2015

You have really got to put flesh on that.feedback

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