Victoria Saporta

Executive Director, Markets

Biography

Vicky Saporta is the Executive Director for Markets in the Bank of England. She uses the Bank’s balance sheet to implement monetary policy and maintain financial stability. Her area also faces market participants across all asset classes, and gathers and analyses information on market functioning relevant to monetary policy and financial stability.
 
Vicky has held positions in financial regulation, financial stability and monetary policy during a 29-year career at the Bank. She was at the heart of our regulatory reforms after the global financial crisis and led the work on the macroprudential framework. From 2016 to 2024, she was Executive Director for Prudential Policy, developing the future regulatory framework after the UK’s exit from the EU – as well as the delivery of substantial regulatory policy packages, including the UK’s implementation of Basel 3.
 
Vicky was chair of the executive committee of the International Association of Insurance Supervisors from 2015 to 2023 and a member of the Basel Committee from 2016 to 2024. She is chair of the London Foreign Exchange Joint Standing Committee and represents the Bank on the Markets Committee of the Bank of International Settlement. She is a member of the management board of the Cambridge Endowment for Research in Finance, professor in practice of the Durham University Business School and a member of the advisory committee of the Financial Markets Group of the London School of Economics (LSE).
 
Vicky has a PhD in economics, an MPhil in finance from the University of Cambridge, and a BSc in mathematical economics and econometrics from the LSE. She has published several articles in books, professional journals and Bank publications.

Victoria's selected academic publications

The Future of Payments, with A Haldane and S Millard, Routledge (2014)
Output costs of sovereign default, with B De Paoli and G Hoggarth, published in Kolb, R (ed), in From Safety to Default, Wiley (2011)
Analytics of sovereign debt restructuring, with A Haldane, S Penalver and H S Shin, Journal of International Economics (2005)
Optimal collective action clauses, with A Haldane, S Penalver and H S Shin, published in proceedings of the IMF/Bank of Spain conference on Dollars, debts and Deficits – 60 years after Bretton Woods (2004)
Bail out or Work out? Theoretical considerations, with A Haldane and G Irwin, Economic Journal (2004)
Costs of banking instability: some empirical evidence, with G Hoggarth and R Reis, Journal of Banking and Finance (2002)
Regulatory and ‘economic’ solvency standards for internationally active banks, with P Jackson and Jackson and W Perraudin, Journal of Banking and Finance (2002)
Binding-in the private sector, with A Haldane, S Hayes, S Penalver and H S ShinRoutledge (2002)

This page was last updated 04 July 2025