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The macro-pru toolbox - for stability, not housing policy

Posted by Paul Smee on 26 June 2014

So, the historic moment has been reached. Macro-prudential tools are now being used to influence the mortgage market, and hence financial stability, the wider economy and - or so it feels - life, the Universe and Everything. What will it all mean in practice? Can it ever again be Glad Confident Morning in the mortgage market? We think so...

Government stirring the pension pot

Posted by Paul Smee on 2 May 2014

“I am 100% behind the Government’s reform of annuities; it’s the second 100% of their proposals I am not so sure of”. Certainly the Budget announcement is one of those rare occasions which justify the clichéd headline “Budget Bombshell”. No-one really saw it coming and its impact is going to rippl...

Switching - too little or too much?

Posted by Paul Smee on 3 October 2013

As its former chief executive, nostalgia alone would have drawn my gaze to the recently published report from the Payments Council on account switching. But now, as director general of the CML, I'm struck even more by the (relative) ease with which people go about switching their mortgage, compared with the (relative) inertia that exists when it...

Only when it looks like a duck, swims like a duck, and quacks like a duck...

Posted by Bob Pannell on 3 September 2013

In a wide-ranging speech in Nottingham a few days ago, Governor Mark Carney elaborated on how the Bank of England aims to help put the UK economy onto a stronger and sustainable footing. While he touched on concerns about a hou...

Hear my words: but act differently

Posted by Bob Pannell on 2 August 2013

Is it just me, or is there a lovely sense of irony in the air?  Just as Mark Carney steps up to head the Bank of England, the Financial Policy Committee (which he also heads) instructs the FCA, PRA and Bank of England staff to report on the vulnerability of households to higher interest rates. Remember that Mark Carney was c...

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