The Bank of England has developed a risk-based methodology to support its oversight of payment systems. The methodology provides more precise estimates of risks in payment systems than previously available. Because it is consistent and systematic in its application, the methodology assists the...

Consumption in Germany, France and Italy (the EU3) has generally been thought to be less responsive to wealth effects than in the United Kingdom or the United States. The aim of this article is to assess the evidence for changes in the responsiveness of EU3 consumption to changes in equity...