Bank of England | Lyddon Consulting

Risk-weighting – how to fake up resilience in a banking system

— blog published on 6th April 2023 and the underlying article by IREF Europe on 5th April 2023 —

Introduction

How resilient is the global banking system? Are banks’ capital buffers now much larger than they were going into the Global Financial Crisis of 2007/8, as authorities claim?

The buffers – called ‘Common Equity Tier 1’ (or CET1), […]

Bank Resolution is dead: authorities dare not use it – and instead risk destroying capital markets

— blog published on 1st April 2023 and the underlying article by IREF Europe on 29th March 2023 —

The template created after the Global Financial Crisis of 2007/8 to shield taxpayers from direct bailouts of failed banks has already folded – authorities dare not use it.

The template is to put failed banks into ‘resolution’, with […]

HSBC rescue of Silicon Valley Bank’s UK arm DID have taxpayer support

SVB’s obituary

Published on 23rd March 2023

I have sent a paper to the Treasury Select Committee proving how the rescue of SVB UK by HSBC had taxpayer support.

You can DOWNLOAD THE PAPER HERE.The Governor of the Bank of England (Andrew Bailey) and the Economic Secretary to the Treasury (Andrew Griffith) are appearing before them on March […]

Review of the 2017 Payment Services Regulations – our response to the Call for Evidence

HM Treasury’s Call for Evidence

Published on 22nd March 2023

We have submitted a response to the Call for Evidence issued by HM Treasury in connection with the review of the 2017 Payment Services Regulations.

You can DOWNLOAD OUR RESPONSE HERE.

It was submitted just before the collapse of Silicon Valley Bank and the unedifying spectacle of UK government […]

What are the lessons for Europe from the demise of Silicon Valley Bank?

As published on https://en.irefeurope.org/publications/online-articles/article/what-are-the-lessons-for-europe-from-the-demise-of-silicon-valley-bank/ on 13th March 2023

YOU CAN DOWNLOAD THE ARTICLE HERE

Cover of slidedeck issued on 8th March 2023

Silicon Valley Bank (SVB) has gone from hero-to-zero in 48 hours. From established bankers to start-ups in the tech, fintech, and biotech industries and to Napa Valley’s premium wineries on Wednesday 8th March to closed by […]

YouGov surveys commissioned for ‘Britcoin’ Digital Pound project

Published on 9th March 2023

We have analysed the two YouGov surveys issued by the Bank of England and HM Treasury in connection with the public consultation on ‘Britcoin’: the plans for a UK Central Bank Digital Currency.

There is one survey for Small and Medium-Sized Enterprises, and one for Consumers.

They both consistently over-egg the current take-up […]

The Bank of England – off-the-leash and now off-the-wall as well

From Global Britain website

Published on 31st January 2023

Global Britain has published a pamphlet written by Lyddon Consulting on how recent events have moved the Bank of England beyond any democratic control. The Bank’s ‘Britcoin’ project – for the introduction of a UK Central Bank Digital Currency – demonstrates the Bank of England independence – from […]

Liability-Driven Investments crisis shows derivatives remain a systemic risk

Published on 17 December 2022

Introduction

At the end of September 2022 a number of UK companies’ pension plans reportedly came close to collapse. This was to do with a financial instrument called a Liability-Driven Investment or LDI, which is a form of derivative contract.

The explanations given for what occurred have ranged from ill-informed to denial to […]

Plans for a UK-crypto, just when real crypto is dying, show a coup d’état has occurred

Published on 6 December 2022

Introduction

Plans to introduce Britcoin, a UK Central Bank Digital Currency or CBDC, must continue apace, according to the nation’s second-in-command, Deputy Governor Sir Jon Cunliffe from the Bank of England. The awkward death of real crypto cannot be permitted to upset the Bank’s applecart, and reality and the opinions of the […]

FTX could be ‘game over’ for Central Bank Digital Currency, and for other dominos: Fintech, Open Banking, the Great Re-set et al

As first published by IREF on www.irefeurope.org as an Online Article on 23rd November 2022:

Published on 2 December 2022

Introduction

Up until recently the proponents of the cluster of financial developments around the Great Re-Set, Decentralized Finance, Central Bank Digital Currency, Financial Inclusion, Fintech, Open Banking et al have had things very much their own way: forming […]