January 30, 2020 / 3:10 PM / 24 days ago

BoE gives financial resolution brief to Deputy Governor Ramsden

LONDON, Jan 30 (Reuters) - The Bank of England said on Thursday it will transfer Deputy Governor Jon Cunliffe’s responsibilities for the resolution of financial firms to Deputy Governor Dave Ramsden, effective Feb. 3.

“This reallocation of responsibilities follows Sir Jon Cunliffe’s appointment as Chair of the Bank for International Settlement’s Committee on Payments and Market Infrastructure and increasing involvement in cross border payment and central bank digital currency issues,” the BoE said in a statement.

“This is a change in Deputy Governor responsibilities only. There is no change to Bank’s Resolution Directorate and the Governor continues to be ultimately responsible for resolution.” (Reporting by Andy Bruce; editing by Costas Pitas)

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