ContextSpeech in Kyiv at the ninth annual research conference of the National Bank of Ukraine and Narodowy Bank Polski; the Bank of England protects monetary and financial stability and shows support to a central bank working in wartime.
Why it mattersBailey shows solidarity with Ukraine's central bank and questions whether heavy bank rules push risk into non-banks.
Problems raised
Ukraine's central bank works in extreme adversity.
Heavy regulation may push risk into non-banks.
Digital money provision is lagging.
Solutions proposed
Show solidarity with Ukraine.
Review whether banks are over-protected.
Encourage commercial banks to provide digital money.
