Britain is expected to choose a new central bank chief this year to succeed Canadian Mark Carney, who will step down in June 2019, three months after the country’s scheduled exit from the EU. No one has yet thrown their hat into the ring to succeed him, but there are numerous contenders.
The UK's financial watchdog has defended its handling of a report into Royal Bank of Scotland's treatment of small business customers following claims it failed to publish the document over fears of being sued.
Royal Bank of Scotland (RBS) said its potential bill for claims against its small business restructuring division will remain at £400m (€448m) after misconduct allegations against it were dismissed by Britain’s financial regulator.
The Bank of England took a tougher approach towards banks over their booming lending to UK consumers, ordering them to apply credit rules prudently and prove by September they are not being too complacent about risks to their balance sheets.