Global imbalances in a more fragmented world โ remarks by Andrew Bailey
Given at the Bellagio Group event, Bank of England
ESG / Sustainability regulatory updates from United Kingdom.
Given at the Bellagio Group event, Bank of England
Given at National University of Singapore
Earlier this year, we undertook a refresh of our Sustainable Finance Advisory Committee. In line with good governance, we planned to refresh the membership on a staggered basis, allowing us to bring in new expertise whilst benefiting from some continuity. Following this process, we are pleased to announce the appointment of two new members to the Committee:Elly Dowding, Director of ESG AccordFarnam Bidgoli, Independent AdviserThese appointments reflect our commitment to drawing on diverse exp...
The Bank of England (the Bank) has today launched its second system-wide exploratory scenario (SWES) exercise. This will focus on how the private markets ecosystem operates under stress and the potential implications for UK financial stability and the UK real economy.
Policy statement 25/25
PS25/25 is the PRA's policy statement providing feedback on CP10/25 and issuing updated Supervisory Statement SS5/25, which replaces SS3/19 to enhance banks' and insurers' management of climate-related financial risks through strengthened governance, risk management, scenario analysis, data quality, and disclosures. It matters because it sets a higher regulatory bar for embedding climate risks proportionately into core processes like ICAAP, ILAAP, ORSA, and financial reporting, promoting resilience and strategic decision-making amid evolving climate threats. #
Supervisory statement 5/25
SS5/25 is the PRA's updated supervisory statement, published on 3 December 2025, replacing SS3/19 and setting enhanced expectations for banks and insurers to manage climate-related risks through governance, risk management, scenario analysis, data quality, and disclosures. It matters because it represents a step change from awareness-raising to embedding robust, proportionate practices that integrate climate risks into core prudential processes like ICAAP, ILAAP, ORSA, and capital planning, aligning with the PRA's objectives for firm safety and soundness amid evolving physical and transition risks. #
Statement from the Bank of England
Given at the Confederation of British Industry
Given at central Bank of Ireland ninth annual workshop of the ESCB research cluster 2
Slides by Victoria Saporta
Given at the Group of Thirtyโs 40th International Banking Seminar 2025, Washington DC
Given at the Scotland Global Investment Summit 2025
Given at the Klaas Knot Farewell Symposium
Given at Cardiff Business School
Letter to chief financial officers of selected PRA-regulated deposit-takers which provides thematic feedback from the PRAโs review of written auditor reports received in 2025 covering IFRS 9 expected credit loss accounting (ECL) and accounting for climate risk.
The PRA's Dear CFO Letter, issued on 30 September 2025 by David Bailey, provides thematic feedback to selected PRA-regulated deposit-takers based on its 2025 review of auditor reports on IFRS 9 expected credit loss (ECL) accounting and climate risk integration. It matters because it highlights persistent supervisory concerns around timely credit risk recognition, model limitations, recovery assumptions, and climate impacts amid economic uncertainty, urging firms to strengthen ECL processes to ensure safety and soundness. #
Given at the Adam Smith Business School, University of Glasgow
Based on remarks given at the Chapman-Barrigan lecture
Given at British Chamber of Commerce 2025 Global Annual Conference
Given at the Global Investment Management summit