Andrew Bailey - Bank of England


Last quote by Andrew Bailey

The report is strongly critical of RBS. It is frankly unfortunate that RBS has not accepted that more readily. I think they should do. It "could lead to enforcement
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Oct 31 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: “So that is why they – and we – tend to take the view that the end of this year, beginning of next year, is the point at which these sorts of things start happening.” in the article Banks need Brexit transition deal by end of year, warns FCA chief.
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Andrew Bailey quotes

Jun 29 2017

There are sections of the public who do have a justifiable need for credit but whose credit records are not necessarily straight forward. An example of this is where you've got people with increasingly erratic

Jun 29 2017

What's going on here? Does it mean there are more cars or [is it that] the form of financing has changed? I think it's something to do with the latter rather then the former. If you talk to people in the US what they say is you need to view it through the lens of secured

Jun 28 2017

We have listened carefully to the feedback we received in response to our report last November. We have put together a comprehensive package of reforms that will make competition work better and help both retail and institutional investors to make their money work well for

Jun 28 2017

It's that sort of area we would recommend looking

Apr 18 2017 - Brexit

Taken together, these documents reflect our aim for the FCA to be more transparent and accountable to the UK

Apr 18 2017 - Brexit

[Whistleblowing] is very important. We take it very

Apr 18 2017 - Brexit

The UK's decision to leave the European Union creates uncertainty for both the UK's financial industry and the FCA. Both we and the government are keen to ensure that the financial services industry remains resilient and can make the most of opportunities in a post-Brexit world. The UK's withdrawal from the European Union will have important implications for the FCA over the coming years. We are liaising closely with the Treasury and the Bank of England to ensure a smooth transfer of EU rules and legislation into the domestic

Mar 02 2017

Putting in place a deadline and campaign will mean people who were potentially mis-sold PPI will be prompted to take action rather than put it off. We believe that two years is a reasonable time for consumers to decide whether they wish to make a

Feb 10 2017

The FCA will provide a further update on this matter when it is in a position to do so and will publish a full account of its findings when practicable once our work is

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

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

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

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

Nov 08 2016

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

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

Nov 08 2016

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

Nov 08 2016

It requires further urgent analysis to understand the broader implications of

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

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

Sep 28 2016

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

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

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

May 16 2016

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

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

Feb 03 2016 - Christmas

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

Oct 22 2015

This forces them into riskier assets and undermines their

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

May 12 2015

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

Mar 02 2015

You have really got to put flesh on

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