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BANK OF ENGLAND AGENT GIVES LOCAL BUSINESSES INSIDER KNOWLEDGE AT ANNUAL EVENT

Home / News & Opportunities / Chamber News

Date: 03/10/2018

On Friday 28 September, over 50 business people attended a breakfast at the Courtyard in Hereford, to receive a presentation and Q&A from Graeme Chaplin, the Bank of England Agent for the West Midlands and Oxfordshire.

Graeme gave a captivating presentation outlining the major functions of the Bank of England and the work they undertake to create stability in the financial sector.  The presentation provided some useful insights into the changing remit of the Bank of England‘s responsibilities in the years since the global financial crisis.
 
In addition to setting interest rates to hit inflation targets, the Bank of England has further responsibilities and statutory powers to regulate the financial sector. The Bank of England runs a number of “stress tests” to predict the impact on a bank of potential future pressures on their balance sheets. Such tests provide an indication as to whether a bank is robust enough to withstand a potential shocks and to assess if a bank could hypothetically absorb losses in a range of strenuous scenarios. The three fold increase in capital held by banks since 2007, suggests that banks are well positioned to deal with a range of political or policy outcomes without becoming significantly destabilised.
 
Graeme was appointed as Agent for the West Midlands and Oxfordshire in November 2008 and has a great wealth of knowledge and experience in the banking sector. He joined the bank in 1992 and has undertaken a variety of roles including banking supervision, economic analysis and financial stability monitoring.
 
Poppy Bramford, Policy Executive at the Herefordshire & Worcestershire Chamber of Commerce, commented: “Graeme provided attendees with a unique insight into the aims and objectives of the Bank of England and the work they do to maintain stability in banks, irrespective of the uncertainty which surrounds Brexit and future policy”.
 
The next annual Bank of England Breakfast will take place in September 2019. For more information on the event please contact Daisie Rees-Evans or Poppy Bramford in the policy department on policy@hwchamber.co.uk