Bank of England to Move Financial Regulator Amid Cash Crunch
The move will allow the BOE to use its office space on Threadneedle Street more efficiently in an era of flexible working and budget constraints.
Photographer: Jason Alden/BloombergThe Bank of England is planning to move its banking regulation arm out of its Moorgate office, slimming down its presence in the City of London at a time of homeworking, tight finances and the rising cost of renting space.
The UK central bank will relocate staff by the time the lease expires in 2028 with most going to its historic Threadneedle Street site nearby, according to people familiar with the situation. The 20 Moorgate building has been the headquarters of the BOE’s Prudential Regulation Authority since it signed a deal to sublet the site in 2012.