U.K. Banks Prepared for Negative Rates in Case Recovery Crumbles_老虎社区_美港股上老虎

U.K. Banks Prepared for Negative Rates in Case Recovery Crumbles

Bloomberg2021-07-26

(Bloomberg) -- Britain’s biggest financial institutions are on track to meet the Bank of England’s deadline to be ready for negative interest rates, giving authorities another tool to aid the economy ...

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The U.K. central bank in February asked for the work to be done by next month and is likely to deliver a progress report on Aug. 5.\n“To meet the Prudential Regulation Authority’s six-month expectation our members are deploying tactical solutions to ready their Treasury systems should there be a negative base rate,” said a spokesperson for UK Finance, the banking industry’s main lobby group.\nBut with growth recovering sharply since BOE Governor Andrew Bailey called for preparations to begin, few expect this new functionality to be used anytime soon. Debate has shifted toward when the central bank should pare back stimulus for the economy to halt rising inflation.\n“While technically we’ve been preparing, and we could do it, the likelihood of negative rates in the U.K. has in my view diminished,” Natwest Group Plc Chairman Howard Davies said in a Bloomberg Television interview.\nBOE staff briefed members of the Monetary Policy Committee in June that preparations were underway, though many institutions said they needed time to make changes to IT systems and other processes to implement the policy. The BOE declined to comment further.\nEU, Japan\nSub-zero rates, already tried in the European Union and Japan, turn banking on its head by charging for deposits while paying those who borrow money. 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The U.K. central bank in February asked for the work to be done by next month and is likely to deliver a progress report on Aug. 5.<blockquote>包括Natwest Group Plc、HSBC Holdings Plc、Barclays Plc和Lloyds Banking Group Plc在内的银行即将完成实施负利率所需的技术步骤。英国央行2月份要求在下个月之前完成这项工作，并可能在8月5日提交进度报告。</blockquote> “To meet the Prudential Regulation Authority’s six-month expectation our members are deploying tactical solutions to ready their Treasury systems should there be a negative base rate,” said a spokesperson for UK Finance, the banking industry’s main lobby group.<blockquote>银行业主要游说团体英国金融的发言人表示：“为了满足审慎监管局六个月的预期，我们的成员正在部署战术解决方案，以便在出现负基准利率时为其财政部系统做好准备。”</blockquote> But with growth recovering sharply since BOE Governor Andrew Bailey called for preparations to begin, few expect this new functionality to be used anytime soon. Debate has shifted toward when the central bank should pare back stimulus for the economy to halt rising inflation.<blockquote>但自英国央行行长安德鲁·贝利呼吁开始准备工作以来，经济增长急剧复苏，很少有人预计这一新功能会很快投入使用。争论已经转向央行何时应该削减经济刺激措施以阻止通胀上升。</blockquote> “While technically we’ve been preparing, and we could do it, the likelihood of negative rates in the U.K. has in my view diminished,” Natwest Group Plc Chairman Howard Davies said in a Bloomberg Television interview.<blockquote>国民西敏寺银行董事长霍华德·戴维斯在接受彭博电视台采访时表示：“虽然从技术上讲，我们一直在做准备，而且我们可以做到，但在我看来，英国出现负利率的可能性已经降低。”</blockquote> BOE staff briefed members of the Monetary Policy Committee in June that preparations were underway, though many institutions said they needed time to make changes to IT systems and other processes to implement the policy. The BOE declined to comment further.<blockquote>英国央行工作人员在6月份向货币政策委员会成员通报说，准备工作正在进行中，不过许多机构表示，他们需要时间对IT系统和其他流程进行更改以实施该政策。英国央行拒绝进一步置评。</blockquote> EU, Japan<blockquote>欧盟、日本</blockquote> Sub-zero rates, already tried in the European Union and Japan, turn banking on its head by charging for deposits while paying those who borrow money. They’re aimed at keeping the cost of money low enough in financial markets to encourage borrowing and spending.<blockquote>欧盟和日本已经尝试过低于零的利率，通过向借款人付款的同时向存款收费，彻底改变了银行业。它们旨在将金融市场的资金成本保持在足够低的水平，以鼓励借贷和支出。</blockquote> “Negative rates scenarios have mostly been shelved,” said Fabrice Montagne, an economist at Barclays Plc. “It would take a significant drag from the delta wave together with an unexpected worsening of the labor market for them to be reconsidered in the near term.”<blockquote>巴克莱银行经济学家法布里斯·蒙塔涅表示：“负利率情景大多已被搁置。”“短期内需要受到三角洲浪潮的严重拖累以及劳动力市场的意外恶化，才能重新考虑它们。”</blockquote> Still, a substantial weakening of the recovery or of confidence might be enough to put negative rates back on the agenda, and there are a few risks that may crystalize in the months ahead.<blockquote>尽管如此，复苏或信心的大幅减弱可能足以将负利率重新提上议程，并且未来几个月可能会出现一些风险。</blockquote> Coronavirus infection rates are surging, and Britain’s exit from the European Union is weighing down trade. A survey of purchasing managers released Friday indicated the economy this month grew at its slowest pace since March and the outlook was the worst since October.<blockquote>冠状病毒感染率飙升，英国退出欧盟正在拖累贸易。周五公布的一项采购经理调查显示，本月经济增长速度为3月份以来最慢，前景也是10月份以来最差的。</blockquote> Another factor feeding into the BOE’s thinking is what the Treasury does. Much will depend on how long Chancellor of the Exchequer Rishi Sunak maintains fiscal support for Covid-hit workers and businesses, said Dan Hanson at Bloomberg Economics. “If there is a winter lockdown, 2022 is already a write off for a rate hike,” he said.<blockquote>英国央行思考的另一个因素是财政部的所作所为。彭博经济研究院的丹·汉森表示，这在很大程度上取决于财政大臣里希•苏纳克对受新冠疫情影响的工人和企业维持财政支持的时间。“如果冬季封锁，2022年已经是加息的冲销，”他表示。</blockquote> While Bailey asked banks to prepare for the possibility of negative rates, he’s consistently signaled that they aren’t necessarily the BOE’s favored policy tool. Instead, he’s focused attention on the Asset Purchase Facility through which the bank is buying 150 billion pounds ($206 billion) of bonds this year to help keep a lid on borrowing costs in financial markets.<blockquote>虽然贝利要求银行为负利率的可能性做好准备，但他一直表示负利率不一定是英国央行青睐的政策工具。相反，他将注意力集中在资产购买机制上，该银行今年将通过该机制购买1500亿英镑（2060亿美元）的债券，以帮助控制金融市场的借贷成本。</blockquote> The swiftness of the recovery in the U.K. pushed inflation above the BOE’s target unexpectedly in each of the past two months, prompting two policy makers to call for a debate in August on curtailing that stimulus program early. Despite that shift, banks have moved ahead with work on negative rates to give the BOE another policy option in the future.<blockquote>过去两个月，英国经济的迅速复苏导致通胀率出人意料地高于英国央行的目标，促使两位政策制定者于8月份前往看涨期权就提前削减刺激计划进行辩论。尽管发生了这种转变，银行仍继续推进负利率工作，为英国央行未来提供另一种政策选择。</blockquote> Policy makers at the BOE are divided about whether negative rates would work:<blockquote>英国央行的政策制定者对于负利率是否有效存在分歧：</blockquote> Silvana Tenreyro told the Financial Times in April that they “have been effective, they work very well, and we should expect them to work well if they are needed”Catherine Mann, who joins the committee in September, told lawmakers in Parliament that the policy “seems to distort household savings, to raise risk taking, and to reduce the profitability and stability of banks, pension funds, and insurers”Deputy Governor Dave Ramsden said that while the BOE doesn’t rule out negative rates, quantitative easing is a “tried and tested tool.”<blockquote>西尔瓦娜·坦雷罗(Silvana Tenreyro)四月份对英国《金融时报》表示，它们“一直很有效，效果非常好，如果需要的话，我们应该期望它们能很好地发挥作用”。9月份加入该委员会的凯瑟琳·曼(Catherine Mann)告诉议会议员，该政策“似乎扭曲了家庭储蓄，增加了风险承担，并降低了银行、养老基金和保险公司的盈利能力和稳定性”。副行长戴夫·拉姆斯登(Dave Ramsden)表示，虽然英国央行不排除负利率，但量化宽松是一种“屡试不爽的工具”。</blockquote>","source":"lsy1612507957220","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>U.K. Banks Prepared for Negative Rates in Case Recovery Crumbles<blockquote>英国银行为负利率做好准备，以防复苏崩溃</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nU.K. Banks Prepared for Negative Rates in Case Recovery Crumbles<blockquote>英国银行为负利率做好准备，以防复苏崩溃</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nBloomberg2021-07-26 14:14\n\n</h4>\n</header>\n<article>\n(Bloomberg) -- Britain’s biggest financial institutions are on track to meet the Bank of England’s deadline to be ready for negative interest rates, giving authorities another tool to aid the economy if the recovery fades.<blockquote>（彭博社）--英国最大的金融机构有望在英格兰银行的最后期限前为负利率做好准备，这为当局在复苏消退时帮助经济提供了另一个工具。</blockquote> Banks including Natwest Group Plc, HSBC Holdings Plc, Barclays Plc and Lloyds Banking Group Plc are close to completing the technical steps necessary to implement negative interest rates. The U.K. central bank in February asked for the work to be done by next month and is likely to deliver a progress report on Aug. 5.<blockquote>包括Natwest Group Plc、HSBC Holdings Plc、Barclays Plc和Lloyds Banking Group Plc在内的银行即将完成实施负利率所需的技术步骤。英国央行2月份要求在下个月之前完成这项工作，并可能在8月5日提交进度报告。</blockquote> “To meet the Prudential Regulation Authority’s six-month expectation our members are deploying tactical solutions to ready their Treasury systems should there be a negative base rate,” said a spokesperson for UK Finance, the banking industry’s main lobby group.<blockquote>银行业主要游说团体英国金融的发言人表示：“为了满足审慎监管局六个月的预期，我们的成员正在部署战术解决方案，以便在出现负基准利率时为其财政部系统做好准备。”</blockquote> But with growth recovering sharply since BOE Governor Andrew Bailey called for preparations to begin, few expect this new functionality to be used anytime soon. Debate has shifted toward when the central bank should pare back stimulus for the economy to halt rising inflation.<blockquote>但自英国央行行长安德鲁·贝利呼吁开始准备工作以来，经济增长急剧复苏，很少有人预计这一新功能会很快投入使用。争论已经转向央行何时应该削减经济刺激措施以阻止通胀上升。</blockquote> “While technically we’ve been preparing, and we could do it, the likelihood of negative rates in the U.K. has in my view diminished,” Natwest Group Plc Chairman Howard Davies said in a Bloomberg Television interview.<blockquote>国民西敏寺银行董事长霍华德·戴维斯在接受彭博电视台采访时表示：“虽然从技术上讲，我们一直在做准备，而且我们可以做到，但在我看来，英国出现负利率的可能性已经降低。”</blockquote> BOE staff briefed members of the Monetary Policy Committee in June that preparations were underway, though many institutions said they needed time to make changes to IT systems and other processes to implement the policy. The BOE declined to comment further.<blockquote>英国央行工作人员在6月份向货币政策委员会成员通报说，准备工作正在进行中，不过许多机构表示，他们需要时间对IT系统和其他流程进行更改以实施该政策。英国央行拒绝进一步置评。</blockquote> EU, Japan<blockquote>欧盟、日本</blockquote> Sub-zero rates, already tried in the European Union and Japan, turn banking on its head by charging for deposits while paying those who borrow money. They’re aimed at keeping the cost of money low enough in financial markets to encourage borrowing and spending.<blockquote>欧盟和日本已经尝试过低于零的利率，通过向借款人付款的同时向存款收费，彻底改变了银行业。它们旨在将金融市场的资金成本保持在足够低的水平，以鼓励借贷和支出。</blockquote> “Negative rates scenarios have mostly been shelved,” said Fabrice Montagne, an economist at Barclays Plc. “It would take a significant drag from the delta wave together with an unexpected worsening of the labor market for them to be reconsidered in the near term.”<blockquote>巴克莱银行经济学家法布里斯·蒙塔涅表示：“负利率情景大多已被搁置。”“短期内需要受到三角洲浪潮的严重拖累以及劳动力市场的意外恶化，才能重新考虑它们。”</blockquote> Still, a substantial weakening of the recovery or of confidence might be enough to put negative rates back on the agenda, and there are a few risks that may crystalize in the months ahead.<blockquote>尽管如此，复苏或信心的大幅减弱可能足以将负利率重新提上议程，并且未来几个月可能会出现一些风险。</blockquote> Coronavirus infection rates are surging, and Britain’s exit from the European Union is weighing down trade. A survey of purchasing managers released Friday indicated the economy this month grew at its slowest pace since March and the outlook was the worst since October.<blockquote>冠状病毒感染率飙升，英国退出欧盟正在拖累贸易。周五公布的一项采购经理调查显示，本月经济增长速度为3月份以来最慢，前景也是10月份以来最差的。</blockquote> Another factor feeding into the BOE’s thinking is what the Treasury does. Much will depend on how long Chancellor of the Exchequer Rishi Sunak maintains fiscal support for Covid-hit workers and businesses, said Dan Hanson at Bloomberg Economics. “If there is a winter lockdown, 2022 is already a write off for a rate hike,” he said.<blockquote>英国央行思考的另一个因素是财政部的所作所为。彭博经济研究院的丹·汉森表示，这在很大程度上取决于财政大臣里希•苏纳克对受新冠疫情影响的工人和企业维持财政支持的时间。“如果冬季封锁，2022年已经是加息的冲销，”他表示。</blockquote> While Bailey asked banks to prepare for the possibility of negative rates, he’s consistently signaled that they aren’t necessarily the BOE’s favored policy tool. Instead, he’s focused attention on the Asset Purchase Facility through which the bank is buying 150 billion pounds ($206 billion) of bonds this year to help keep a lid on borrowing costs in financial markets.<blockquote>虽然贝利要求银行为负利率的可能性做好准备，但他一直表示负利率不一定是英国央行青睐的政策工具。相反，他将注意力集中在资产购买机制上，该银行今年将通过该机制购买1500亿英镑（2060亿美元）的债券，以帮助控制金融市场的借贷成本。</blockquote> The swiftness of the recovery in the U.K. pushed inflation above the BOE’s target unexpectedly in each of the past two months, prompting two policy makers to call for a debate in August on curtailing that stimulus program early. Despite that shift, banks have moved ahead with work on negative rates to give the BOE another policy option in the future.<blockquote>过去两个月，英国经济的迅速复苏导致通胀率出人意料地高于英国央行的目标，促使两位政策制定者于8月份前往看涨期权就提前削减刺激计划进行辩论。尽管发生了这种转变，银行仍继续推进负利率工作，为英国央行未来提供另一种政策选择。</blockquote> Policy makers at the BOE are divided about whether negative rates would work:<blockquote>英国央行的政策制定者对于负利率是否有效存在分歧：</blockquote> Silvana Tenreyro told the Financial Times in April that they “have been effective, they work very well, and we should expect them to work well if they are needed”Catherine Mann, who joins the committee in September, told lawmakers in Parliament that the policy “seems to distort household savings, to raise risk taking, and to reduce the profitability and stability of banks, pension funds, and insurers”Deputy Governor Dave Ramsden said that while the BOE doesn’t rule out negative rates, quantitative easing is a “tried and tested tool.”<blockquote>西尔瓦娜·坦雷罗(Silvana Tenreyro)四月份对英国《金融时报》表示，它们“一直很有效，效果非常好，如果需要的话，我们应该期望它们能很好地发挥作用”。9月份加入该委员会的凯瑟琳·曼(Catherine Mann)告诉议会议员，该政策“似乎扭曲了家庭储蓄，增加了风险承担，并降低了银行、养老基金和保险公司的盈利能力和稳定性”。副行长戴夫·拉姆斯登(Dave Ramsden)表示，虽然英国央行不排除负利率，但量化宽松是一种“屡试不爽的工具”。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://finance.yahoo.com/news/u-k-banks-prepared-negative-040000429.html\">Bloomberg</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://finance.yahoo.com/news/u-k-banks-prepared-negative-040000429.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1182191763","content_text":"(Bloomberg) -- Britain’s biggest financial institutions are on track to meet the Bank of England’s deadline to be ready for negative interest rates, giving authorities another tool to aid the economy if the recovery fades.\nBanks including Natwest Group Plc, HSBC Holdings Plc, Barclays Plc and Lloyds Banking Group Plc are close to completing the technical steps necessary to implement negative interest rates. The U.K. central bank in February asked for the work to be done by next month and is likely to deliver a progress report on Aug. 5.\n“To meet the Prudential Regulation Authority’s six-month expectation our members are deploying tactical solutions to ready their Treasury systems should there be a negative base rate,” said a spokesperson for UK Finance, the banking industry’s main lobby group.\nBut with growth recovering sharply since BOE Governor Andrew Bailey called for preparations to begin, few expect this new functionality to be used anytime soon. Debate has shifted toward when the central bank should pare back stimulus for the economy to halt rising inflation.\n“While technically we’ve been preparing, and we could do it, the likelihood of negative rates in the U.K. has in my view diminished,” Natwest Group Plc Chairman Howard Davies said in a Bloomberg Television interview.\nBOE staff briefed members of the Monetary Policy Committee in June that preparations were underway, though many institutions said they needed time to make changes to IT systems and other processes to implement the policy. The BOE declined to comment further.\nEU, Japan\nSub-zero rates, already tried in the European Union and Japan, turn banking on its head by charging for deposits while paying those who borrow money. They’re aimed at keeping the cost of money low enough in financial markets to encourage borrowing and spending.\n“Negative rates scenarios have mostly been shelved,” said Fabrice Montagne, an economist at Barclays Plc. “It would take a significant drag from the delta wave together with an unexpected worsening of the labor market for them to be reconsidered in the near term.”\nStill, a substantial weakening of the recovery or of confidence might be enough to put negative rates back on the agenda, and there are a few risks that may crystalize in the months ahead.\nCoronavirus infection rates are surging, and Britain’s exit from the European Union is weighing down trade. A survey of purchasing managers released Friday indicated the economy this month grew at its slowest pace since March and the outlook was the worst since October.\nAnother factor feeding into the BOE’s thinking is what the Treasury does. Much will depend on how long Chancellor of the Exchequer Rishi Sunak maintains fiscal support for Covid-hit workers and businesses, said Dan Hanson at Bloomberg Economics. “If there is a winter lockdown, 2022 is already a write off for a rate hike,” he said.\nWhile Bailey asked banks to prepare for the possibility of negative rates, he’s consistently signaled that they aren’t necessarily the BOE’s favored policy tool. Instead, he’s focused attention on the Asset Purchase Facility through which the bank is buying 150 billion pounds ($206 billion) of bonds this year to help keep a lid on borrowing costs in financial markets.\nThe swiftness of the recovery in the U.K. pushed inflation above the BOE’s target unexpectedly in each of the past two months, prompting two policy makers to call for a debate in August on curtailing that stimulus program early. Despite that shift, banks have moved ahead with work on negative rates to give the BOE another policy option in the future.\nPolicy makers at the BOE are divided about whether negative rates would work:\nSilvana Tenreyro told the Financial Times in April that they “have been effective, they work very well, and we should expect them to work well if they are needed”Catherine Mann, who joins the committee in September, told lawmakers in Parliament that the policy “seems to distort household savings, to raise risk taking, and to reduce the profitability and stability of banks, pension funds, and insurers”Deputy Governor Dave Ramsden said that while the BOE doesn’t rule out negative rates, quantitative easing is a “tried and tested tool.”","news_type":1,"symbols_score_info":{}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":800327922,"gmtCreate":1627280285466,"gmtModify":1633766558328,"author":{"id":"3579743164156658","authorId":"3579743164156658","name":"sheenayam","avatar":"https://static.tigerbbs.com/fe1b57a8371314fd64ce0840001df6b2","vip":1,"crmLevel":12,"crmLevelSwitch":0,"authorIdStr":"3579743164156658","idStr":"3579743164156658"},"htmlText":"Please like and comment. Thanks","listText":"Please like and comment. Thanks","text":"Please like and comment. Thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/800327922","repostId":1182191763,"repostType":4,"repost":{"id":"1182191763","kind":"news","pubTimestamp":1627280094,"share":"https://www.laohu8.com/m/news/1182191763?lang=zh_CN&edition=full","pubTime":"2021-07-26 14:14","market":"sh","language":"en","title":"U.K. Banks Prepared for Negative Rates in Case Recovery Crumbles<blockquote>英国银行为负利率做好准备，以防复苏崩溃</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1182191763","media":"Bloomberg","summary":"(Bloomberg) -- Britain’s biggest financial institutions are on track to meet the Bank of England’s d","content":"(Bloomberg) -- Britain’s biggest financial institutions are on track to meet the Bank of England’s deadline to be ready for negative interest rates, giving authorities another tool to aid the economy if the recovery fades.<blockquote>（彭博社）--英国最大的金融机构有望在英格兰银行的最后期限前为负利率做好准备，这为当局在复苏消退时帮助经济提供了另一个工具。</blockquote> Banks including Natwest Group Plc, HSBC Holdings Plc, Barclays Plc and Lloyds Banking Group Plc are close to completing the technical steps necessary to implement negative interest rates. The U.K. central bank in February asked for the work to be done by next month and is likely to deliver a progress report on Aug. 5.<blockquote>包括Natwest Group Plc、HSBC Holdings Plc、Barclays Plc和Lloyds Banking Group Plc在内的银行即将完成实施负利率所需的技术步骤。英国央行2月份要求在下个月之前完成这项工作，并可能在8月5日提交进度报告。</blockquote> “To meet the Prudential Regulation Authority’s six-month expectation our members are deploying tactical solutions to ready their Treasury systems should there be a negative base rate,” said a spokesperson for UK Finance, the banking industry’s main lobby group.<blockquote>银行业主要游说团体英国金融的发言人表示：“为了满足审慎监管局六个月的预期，我们的成员正在部署战术解决方案，以便在出现负基准利率时为其财政部系统做好准备。”</blockquote> But with growth recovering sharply since BOE Governor Andrew Bailey called for preparations to begin, few expect this new functionality to be used anytime soon. Debate has shifted toward when the central bank should pare back stimulus for the economy to halt rising inflation.<blockquote>但自英国央行行长安德鲁·贝利呼吁开始准备工作以来，经济增长急剧复苏，很少有人预计这一新功能会很快投入使用。争论已经转向央行何时应该削减经济刺激措施以阻止通胀上升。</blockquote> “While technically we’ve been preparing, and we could do it, the likelihood of negative rates in the U.K. has in my view diminished,” Natwest Group Plc Chairman Howard Davies said in a Bloomberg Television interview.<blockquote>国民西敏寺银行董事长霍华德·戴维斯在接受彭博电视台采访时表示：“虽然从技术上讲，我们一直在做准备，而且我们可以做到，但在我看来，英国出现负利率的可能性已经降低。”</blockquote> BOE staff briefed members of the Monetary Policy Committee in June that preparations were underway, though many institutions said they needed time to make changes to IT systems and other processes to implement the policy. The BOE declined to comment further.<blockquote>英国央行工作人员在6月份向货币政策委员会成员通报说，准备工作正在进行中，不过许多机构表示，他们需要时间对IT系统和其他流程进行更改以实施该政策。英国央行拒绝进一步置评。</blockquote> EU, Japan<blockquote>欧盟、日本</blockquote> Sub-zero rates, already tried in the European Union and Japan, turn banking on its head by charging for deposits while paying those who borrow money. They’re aimed at keeping the cost of money low enough in financial markets to encourage borrowing and spending.<blockquote>欧盟和日本已经尝试过低于零的利率，通过向借款人付款的同时向存款收费，彻底改变了银行业。它们旨在将金融市场的资金成本保持在足够低的水平，以鼓励借贷和支出。</blockquote> “Negative rates scenarios have mostly been shelved,” said Fabrice Montagne, an economist at Barclays Plc. “It would take a significant drag from the delta wave together with an unexpected worsening of the labor market for them to be reconsidered in the near term.”<blockquote>巴克莱银行经济学家法布里斯·蒙塔涅表示：“负利率情景大多已被搁置。”“短期内需要受到三角洲浪潮的严重拖累以及劳动力市场的意外恶化，才能重新考虑它们。”</blockquote> Still, a substantial weakening of the recovery or of confidence might be enough to put negative rates back on the agenda, and there are a few risks that may crystalize in the months ahead.<blockquote>尽管如此，复苏或信心的大幅减弱可能足以将负利率重新提上议程，并且未来几个月可能会出现一些风险。</blockquote> Coronavirus infection rates are surging, and Britain’s exit from the European Union is weighing down trade. A survey of purchasing managers released Friday indicated the economy this month grew at its slowest pace since March and the outlook was the worst since October.<blockquote>冠状病毒感染率飙升，英国退出欧盟正在拖累贸易。周五公布的一项采购经理调查显示，本月经济增长速度为3月份以来最慢，前景也是10月份以来最差的。</blockquote> Another factor feeding into the BOE’s thinking is what the Treasury does. Much will depend on how long Chancellor of the Exchequer Rishi Sunak maintains fiscal support for Covid-hit workers and businesses, said Dan Hanson at Bloomberg Economics. “If there is a winter lockdown, 2022 is already a write off for a rate hike,” he said.<blockquote>英国央行思考的另一个因素是财政部的所作所为。彭博经济研究院的丹·汉森表示，这在很大程度上取决于财政大臣里希•苏纳克对受新冠疫情影响的工人和企业维持财政支持的时间。“如果冬季封锁，2022年已经是加息的冲销，”他表示。</blockquote> While Bailey asked banks to prepare for the possibility of negative rates, he’s consistently signaled that they aren’t necessarily the BOE’s favored policy tool. Instead, he’s focused attention on the Asset Purchase Facility through which the bank is buying 150 billion pounds ($206 billion) of bonds this year to help keep a lid on borrowing costs in financial markets.<blockquote>虽然贝利要求银行为负利率的可能性做好准备，但他一直表示负利率不一定是英国央行青睐的政策工具。相反，他将注意力集中在资产购买机制上，该银行今年将通过该机制购买1500亿英镑（2060亿美元）的债券，以帮助控制金融市场的借贷成本。</blockquote> The swiftness of the recovery in the U.K. pushed inflation above the BOE’s target unexpectedly in each of the past two months, prompting two policy makers to call for a debate in August on curtailing that stimulus program early. Despite that shift, banks have moved ahead with work on negative rates to give the BOE another policy option in the future.<blockquote>过去两个月，英国经济的迅速复苏导致通胀率出人意料地高于英国央行的目标，促使两位政策制定者于8月份前往看涨期权就提前削减刺激计划进行辩论。尽管发生了这种转变，银行仍继续推进负利率工作，为英国央行未来提供另一种政策选择。</blockquote> Policy makers at the BOE are divided about whether negative rates would work:<blockquote>英国央行的政策制定者对于负利率是否有效存在分歧：</blockquote> Silvana Tenreyro told the Financial Times in April that they “have been effective, they work very well, and we should expect them to work well if they are needed”Catherine Mann, who joins the committee in September, told lawmakers in Parliament that the policy “seems to distort household savings, to raise risk taking, and to reduce the profitability and stability of banks, pension funds, and insurers”Deputy Governor Dave Ramsden said that while the BOE doesn’t rule out negative rates, quantitative easing is a “tried and tested tool.”<blockquote>西尔瓦娜·坦雷罗(Silvana Tenreyro)四月份对英国《金融时报》表示，它们“一直很有效，效果非常好，如果需要的话，我们应该期望它们能很好地发挥作用”。9月份加入该委员会的凯瑟琳·曼(Catherine Mann)告诉议会议员，该政策“似乎扭曲了家庭储蓄，增加了风险承担，并降低了银行、养老基金和保险公司的盈利能力和稳定性”。副行长戴夫·拉姆斯登(Dave Ramsden)表示，虽然英国央行不排除负利率，但量化宽松是一种“屡试不爽的工具”。</blockquote>","source":"lsy1612507957220","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>U.K. Banks Prepared for Negative Rates in Case Recovery Crumbles<blockquote>英国银行为负利率做好准备，以防复苏崩溃</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nU.K. Banks Prepared for Negative Rates in Case Recovery Crumbles<blockquote>英国银行为负利率做好准备，以防复苏崩溃</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nBloomberg2021-07-26 14:14\n\n</h4>\n</header>\n<article>\n(Bloomberg) -- Britain’s biggest financial institutions are on track to meet the Bank of England’s deadline to be ready for negative interest rates, giving authorities another tool to aid the economy if the recovery fades.<blockquote>（彭博社）--英国最大的金融机构有望在英格兰银行的最后期限前为负利率做好准备，这为当局在复苏消退时帮助经济提供了另一个工具。</blockquote> Banks including Natwest Group Plc, HSBC Holdings Plc, Barclays Plc and Lloyds Banking Group Plc are close to completing the technical steps necessary to implement negative interest rates. The U.K. central bank in February asked for the work to be done by next month and is likely to deliver a progress report on Aug. 5.<blockquote>包括Natwest Group Plc、HSBC Holdings Plc、Barclays Plc和Lloyds Banking Group Plc在内的银行即将完成实施负利率所需的技术步骤。英国央行2月份要求在下个月之前完成这项工作，并可能在8月5日提交进度报告。</blockquote> “To meet the Prudential Regulation Authority’s six-month expectation our members are deploying tactical solutions to ready their Treasury systems should there be a negative base rate,” said a spokesperson for UK Finance, the banking industry’s main lobby group.<blockquote>银行业主要游说团体英国金融的发言人表示：“为了满足审慎监管局六个月的预期，我们的成员正在部署战术解决方案，以便在出现负基准利率时为其财政部系统做好准备。”</blockquote> But with growth recovering sharply since BOE Governor Andrew Bailey called for preparations to begin, few expect this new functionality to be used anytime soon. Debate has shifted toward when the central bank should pare back stimulus for the economy to halt rising inflation.<blockquote>但自英国央行行长安德鲁·贝利呼吁开始准备工作以来，经济增长急剧复苏，很少有人预计这一新功能会很快投入使用。争论已经转向央行何时应该削减经济刺激措施以阻止通胀上升。</blockquote> “While technically we’ve been preparing, and we could do it, the likelihood of negative rates in the U.K. has in my view diminished,” Natwest Group Plc Chairman Howard Davies said in a Bloomberg Television interview.<blockquote>国民西敏寺银行董事长霍华德·戴维斯在接受彭博电视台采访时表示：“虽然从技术上讲，我们一直在做准备，而且我们可以做到，但在我看来，英国出现负利率的可能性已经降低。”</blockquote> BOE staff briefed members of the Monetary Policy Committee in June that preparations were underway, though many institutions said they needed time to make changes to IT systems and other processes to implement the policy. The BOE declined to comment further.<blockquote>英国央行工作人员在6月份向货币政策委员会成员通报说，准备工作正在进行中，不过许多机构表示，他们需要时间对IT系统和其他流程进行更改以实施该政策。英国央行拒绝进一步置评。</blockquote> EU, Japan<blockquote>欧盟、日本</blockquote> Sub-zero rates, already tried in the European Union and Japan, turn banking on its head by charging for deposits while paying those who borrow money. They’re aimed at keeping the cost of money low enough in financial markets to encourage borrowing and spending.<blockquote>欧盟和日本已经尝试过低于零的利率，通过向借款人付款的同时向存款收费，彻底改变了银行业。它们旨在将金融市场的资金成本保持在足够低的水平，以鼓励借贷和支出。</blockquote> “Negative rates scenarios have mostly been shelved,” said Fabrice Montagne, an economist at Barclays Plc. “It would take a significant drag from the delta wave together with an unexpected worsening of the labor market for them to be reconsidered in the near term.”<blockquote>巴克莱银行经济学家法布里斯·蒙塔涅表示：“负利率情景大多已被搁置。”“短期内需要受到三角洲浪潮的严重拖累以及劳动力市场的意外恶化，才能重新考虑它们。”</blockquote> Still, a substantial weakening of the recovery or of confidence might be enough to put negative rates back on the agenda, and there are a few risks that may crystalize in the months ahead.<blockquote>尽管如此，复苏或信心的大幅减弱可能足以将负利率重新提上议程，并且未来几个月可能会出现一些风险。</blockquote> Coronavirus infection rates are surging, and Britain’s exit from the European Union is weighing down trade. A survey of purchasing managers released Friday indicated the economy this month grew at its slowest pace since March and the outlook was the worst since October.<blockquote>冠状病毒感染率飙升，英国退出欧盟正在拖累贸易。周五公布的一项采购经理调查显示，本月经济增长速度为3月份以来最慢，前景也是10月份以来最差的。</blockquote> Another factor feeding into the BOE’s thinking is what the Treasury does. Much will depend on how long Chancellor of the Exchequer Rishi Sunak maintains fiscal support for Covid-hit workers and businesses, said Dan Hanson at Bloomberg Economics. “If there is a winter lockdown, 2022 is already a write off for a rate hike,” he said.<blockquote>英国央行思考的另一个因素是财政部的所作所为。彭博经济研究院的丹·汉森表示，这在很大程度上取决于财政大臣里希•苏纳克对受新冠疫情影响的工人和企业维持财政支持的时间。“如果冬季封锁，2022年已经是加息的冲销，”他表示。</blockquote> While Bailey asked banks to prepare for the possibility of negative rates, he’s consistently signaled that they aren’t necessarily the BOE’s favored policy tool. Instead, he’s focused attention on the Asset Purchase Facility through which the bank is buying 150 billion pounds ($206 billion) of bonds this year to help keep a lid on borrowing costs in financial markets.<blockquote>虽然贝利要求银行为负利率的可能性做好准备，但他一直表示负利率不一定是英国央行青睐的政策工具。相反，他将注意力集中在资产购买机制上，该银行今年将通过该机制购买1500亿英镑（2060亿美元）的债券，以帮助控制金融市场的借贷成本。</blockquote> The swiftness of the recovery in the U.K. pushed inflation above the BOE’s target unexpectedly in each of the past two months, prompting two policy makers to call for a debate in August on curtailing that stimulus program early. Despite that shift, banks have moved ahead with work on negative rates to give the BOE another policy option in the future.<blockquote>过去两个月，英国经济的迅速复苏导致通胀率出人意料地高于英国央行的目标，促使两位政策制定者于8月份前往看涨期权就提前削减刺激计划进行辩论。尽管发生了这种转变，银行仍继续推进负利率工作，为英国央行未来提供另一种政策选择。</blockquote> Policy makers at the BOE are divided about whether negative rates would work:<blockquote>英国央行的政策制定者对于负利率是否有效存在分歧：</blockquote> Silvana Tenreyro told the Financial Times in April that they “have been effective, they work very well, and we should expect them to work well if they are needed”Catherine Mann, who joins the committee in September, told lawmakers in Parliament that the policy “seems to distort household savings, to raise risk taking, and to reduce the profitability and stability of banks, pension funds, and insurers”Deputy Governor Dave Ramsden said that while the BOE doesn’t rule out negative rates, quantitative easing is a “tried and tested tool.”<blockquote>西尔瓦娜·坦雷罗(Silvana Tenreyro)四月份对英国《金融时报》表示，它们“一直很有效，效果非常好，如果需要的话，我们应该期望它们能很好地发挥作用”。9月份加入该委员会的凯瑟琳·曼(Catherine Mann)告诉议会议员，该政策“似乎扭曲了家庭储蓄，增加了风险承担，并降低了银行、养老基金和保险公司的盈利能力和稳定性”。副行长戴夫·拉姆斯登(Dave Ramsden)表示，虽然英国央行不排除负利率，但量化宽松是一种“屡试不爽的工具”。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://finance.yahoo.com/news/u-k-banks-prepared-negative-040000429.html\">Bloomberg</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://finance.yahoo.com/news/u-k-banks-prepared-negative-040000429.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1182191763","content_text":"(Bloomberg) -- Britain’s biggest financial institutions are on track to meet the Bank of England’s deadline to be ready for negative interest rates, giving authorities another tool to aid the economy if the recovery fades.\nBanks including Natwest Group Plc, HSBC Holdings Plc, Barclays Plc and Lloyds Banking Group Plc are close to completing the technical steps necessary to implement negative interest rates. The U.K. central bank in February asked for the work to be done by next month and is likely to deliver a progress report on Aug. 5.\n“To meet the Prudential Regulation Authority’s six-month expectation our members are deploying tactical solutions to ready their Treasury systems should there be a negative base rate,” said a spokesperson for UK Finance, the banking industry’s main lobby group.\nBut with growth recovering sharply since BOE Governor Andrew Bailey called for preparations to begin, few expect this new functionality to be used anytime soon. Debate has shifted toward when the central bank should pare back stimulus for the economy to halt rising inflation.\n“While technically we’ve been preparing, and we could do it, the likelihood of negative rates in the U.K. has in my view diminished,” Natwest Group Plc Chairman Howard Davies said in a Bloomberg Television interview.\nBOE staff briefed members of the Monetary Policy Committee in June that preparations were underway, though many institutions said they needed time to make changes to IT systems and other processes to implement the policy. The BOE declined to comment further.\nEU, Japan\nSub-zero rates, already tried in the European Union and Japan, turn banking on its head by charging for deposits while paying those who borrow money. They’re aimed at keeping the cost of money low enough in financial markets to encourage borrowing and spending.\n“Negative rates scenarios have mostly been shelved,” said Fabrice Montagne, an economist at Barclays Plc. “It would take a significant drag from the delta wave together with an unexpected worsening of the labor market for them to be reconsidered in the near term.”\nStill, a substantial weakening of the recovery or of confidence might be enough to put negative rates back on the agenda, and there are a few risks that may crystalize in the months ahead.\nCoronavirus infection rates are surging, and Britain’s exit from the European Union is weighing down trade. A survey of purchasing managers released Friday indicated the economy this month grew at its slowest pace since March and the outlook was the worst since October.\nAnother factor feeding into the BOE’s thinking is what the Treasury does. Much will depend on how long Chancellor of the Exchequer Rishi Sunak maintains fiscal support for Covid-hit workers and businesses, said Dan Hanson at Bloomberg Economics. “If there is a winter lockdown, 2022 is already a write off for a rate hike,” he said.\nWhile Bailey asked banks to prepare for the possibility of negative rates, he’s consistently signaled that they aren’t necessarily the BOE’s favored policy tool. Instead, he’s focused attention on the Asset Purchase Facility through which the bank is buying 150 billion pounds ($206 billion) of bonds this year to help keep a lid on borrowing costs in financial markets.\nThe swiftness of the recovery in the U.K. pushed inflation above the BOE’s target unexpectedly in each of the past two months, prompting two policy makers to call for a debate in August on curtailing that stimulus program early. Despite that shift, banks have moved ahead with work on negative rates to give the BOE another policy option in the future.\nPolicy makers at the BOE are divided about whether negative rates would work:\nSilvana Tenreyro told the Financial Times in April that they “have been effective, they work very well, and we should expect them to work well if they are needed”Catherine Mann, who joins the committee in September, told lawmakers in Parliament that the policy “seems to distort household savings, to raise risk taking, and to reduce the profitability and stability of banks, pension funds, and insurers”Deputy Governor Dave Ramsden said that while the BOE doesn’t rule out negative rates, quantitative easing is a “tried and tested tool.”","news_type":1,"symbols_score_info":{}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5331252,"gmtCreate":1627280359078,"gmtModify":1635221262450,"authorId":3577075923922212,"author":{"id":3577075923922212,"idStr":"3577075923922212","authorId":3577075923922212,"name":"jijimo","avatar":"https://static.tigerbbs.com/22bac6d28b6513739fc962def9c071bd","vip":1,"crmLevel":11,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":800327922,"type":1,"supId":0,"prevId":0,"content":"Ok","text":"Ok","html":"Ok"},{"id":5331408,"gmtCreate":1627282272697,"gmtModify":1635221252969,"authorId":3556277644755503,"author":{"id":3556277644755503,"idStr":"3556277644755503","authorId":3556277644755503,"name":"traveladdict","avatar":"https://static.tigerbbs.com/56281342ac7214d2f9b3fbcd1729f3cb","vip":1,"crmLevel":11,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":800327922,"type":1,"supId":0,"prevId":0,"content":"Ok","text":"Ok","html":"Ok"}],"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":16,"commentSize":2,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"isCrawlerRequest":true}