Conduct risk and Official Bank Rate: Difference between pages

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''Corporate governance and risk management''
1. ''UK.''


1.
The official reference interest rate for the UK determined by the Bank of England's Monetary Policy Committee (MPC).


The risk that an organisation or an individual may behave unethically, illegally, or contrary to the organisation's or the market's codes of practice.
The Official Bank Rate is the rate used for certain key transactions between the Bank of England ('the Bank') and financial institutions.


It is designed to have the effect of determining the level of near risk-free interest rates throughout the UK financial sector.


2.


The adverse consequences of such a breach.
It is used by many financial institutions when setting interest rates for certain of their products.




<span style="color:#4B0082">'''''$375bn in conduct fines'''''</span>
The Official Bank Rate is often known - externally to the Bank - as the 'Bank of England Base Rate' (BBR).


:"Conduct risk is now systemic in scale.
Within the Bank of England, it is often abbreviated to 'the Bank Rate'.


:In the past five years, banks globally have paid some $375bn in conduct fines, and misconduct has damaged trust in financial services.


:Identifying malpractice techniques is the essential first step to forestalling them, in particular if there is a limited core group of identifiable practices."
2.
 
 
:''The Treasurer magazine, September/October 2017, p37 - Gerry Harvey, chief executive of the FICC Markets Standards Board (FMSB).''


Similar interest rates in other jurisdictions.


==See also==
* [[ACT Ethical Code]]
* [[Code of conduct]]
* [[Code of practice]]
* [[Conduct]]
* [[Corporate governance]]
* [[Financial Conduct Authority]]
* [[FMSB]]
* [[Front-running]]
* [[Layering]]
* [[Market corners]]
* [[Ramping]]
* [[Risk management]]
* [[Spoofing]]
* [[Squeeze]]
* [[Wash trading]]


[[Category:Corporate_finance]]
== See also ==
[[Category:Financial_risk_management]]
* [[Bank of England]]
* [[Bank Rate]]
* [[Base rate]]
* [[Monetary Policy Committee]]
* [[MLR]]
* [[Reference rate]]
* [[Term Funding Scheme]]

Revision as of 14:13, 23 March 2020

1. UK.

The official reference interest rate for the UK determined by the Bank of England's Monetary Policy Committee (MPC).

The Official Bank Rate is the rate used for certain key transactions between the Bank of England ('the Bank') and financial institutions.

It is designed to have the effect of determining the level of near risk-free interest rates throughout the UK financial sector.


It is used by many financial institutions when setting interest rates for certain of their products.


The Official Bank Rate is often known - externally to the Bank - as the 'Bank of England Base Rate' (BBR).

Within the Bank of England, it is often abbreviated to 'the Bank Rate'.


2.

Similar interest rates in other jurisdictions.


See also