Bank of England Governor Andrew Bailey visits Loughborough

Andrew Bailey delivering a speech

On Monday 12 February, students of Loughborough Business School’s Economics academic group invited students, staff, alumni, partners and the local community to a lecture and Q&A session with Dr Andrew Bailey, Governor of the Bank of England.

Speaking on the topic of ‘Banking today’, Dr Bailey outlined the state of the banking sector, focusing on the future issues that are important for banks themselves and for broader monetary and financial stability. This includes bank regulation, capital and liquidity requirements, the puzzle surrounding the market valuation of banks, the debate about the fractional reserve system of banking, and the impact of COVID on the UK economy.

David Llewellyn, Emeritus Professor of Money and Banking, said: “This is an important lecture which raises several important issues related to bank and market behaviour and the impact of bank regulation. It will surely be widely studied for some considerable time to come.”

Vice-Chancellor Professor Nick Jennings talking at a lectern
Professor Nick Jennings introduces Dr Bailey

The Governor was welcomed by Vice-Chancellor and President of Loughborough University, Professor Nick Jennings. He said: “I’m incredibly proud that our University attracts students, researchers and staff who want to make a difference to communities and economies by transforming the way that the world does business. I’m also delighted that today’s event so perfectly illustrates our strategic aim to develop meaningful partnerships that bring people and organisations together.”

Current students played a key part in organising this prestigious event. Speaking about the impact of the session, Isha Karia, BSc Economics student and School President of Economics 2022-23, said: “The Governor’s lecture has given us economics students meaningful and tangible illustrations of theoretical knowledge's intersection with the realities of the financial world. It is not an exaggeration to say that Dr Bailey has brought the text from our economic theories to life, effectively demonstrating the real-world applications of these principles. I am certain that these insights will guide us, propel us, and remind us of the impact we could have in our future careers.”

Adding to this, David Stritch, BSc Business Economics and Finance student and School President of Economics 2023-24, said: “It was a pleasure to hear the Governor talk with such knowledge on key issues, and we have already seen evidence of the talk increasing student engagement.”

David Llewellyn, David Stritch, Andrew Bailey, Isha Karia and Nick Jennings stood in a row facing the camera
David Llewellyn, David Stritch, Andrew Bailey, Isha Karia, Nick Jennings
Andrew Bailey meeting with student reps.
Andrew Bailey meeting with student representatives
Audience members of Andrew Bailey's speech applauding
Audience members applauding

Andrew has connections with the East Midlands, having attended Wyggeston Boys' Grammar School in Leicester. He is now one of the world’s leading and most distinguished central bankers, having been with the Bank of England since 1985 and Governor since 2020. Previously, he served in key positions including Chief Cashier and Deputy Governor for Prudential Regulation. He played a key role in the management and resolution of the 2007-09 banking crisis. On the international stage, at various times he has served as a member of the European Central Bank’s Monetary Policy Committee, the OECD Economic Policy Committee, and the Board of the European Banking Authority and its Management Committee. Outside the Bank, he served as the Chief Executive of the UK’s Financial Conduct Authority from 2016 to 2020.

Dr Bailey’s speech in full