Research funding and fellowships

There are several funding channels and fellowships available at the Bank of England, which support and further our research agenda.

Applications for Research Funding

We are willing to consider providing a letter of support for applications to external research funding bodies for those research proposals that are of particular relevance and promise for our own research agenda. For further information, email

Houblon-Norman and George Fellowships

Houblon-Norman and George Fellowships are awarded to promote research into and disseminate knowledge and understanding of the working, interaction and function of financial business institutions in the UK and elsewhere and the economic conditions affecting them.

The Houblon Norman Fund (registered charity 213168) is administered by trustees, on the advice of an expert committee.

Fund trustees

One of the fund trustees must be a current Bank of England Governor or Deputy Governor. The current trustees are:

Fund advisory committee

The advisory committee is appointed by the trustees. It is made up of three people who have the academic standing and knowledge to make recommendations on who is awarded a fellowship.

The committee is currently made up of:

Who is eligible for a fellowship?

Our fellowships will enable successful applicants to engage in research on an economic or financial topic of their own choice, preferably one that it would be particularly beneficial to study at the Bank of England. When they consider applications, the trustees will pay particular attention to how relevant the research is to current problems in economics and finance.

Senior fellowships will be awarded to distinguished researchers who have established a reputation in their field. Fellowships will also be available for younger postdoctoral or equivalent applicants. The length of the fellowship will be agreed with you, but will not normally be less than one month or more than one year. 

The total amount distributed in any year rarely exceeds £120,000. The award will broadly reflect the circumstances of successful candidates, and will be as much as appears necessary for their work to be done. Fellows will be provided with office accommodation at the Bank of England and other necessary support services. In some circumstances, the award might take the form (in whole or part) of payment to the individual's present employer. A further allowance may be made to cover travelling expenses or other incidental costs. Fellows will not be able to carry out teaching or other paid work during their tenure without the trustees’ consent.

Applying for a fellowship

Please note applications for 2022/23 are now closed. We will re-open in autumn 2022 for applications for the 2023/24 academic year.

For queries about the fellowships you can email, or call +44 (0)20 3461 3778.

History of the fellowships

The Houblon-Norman Fellowship was established in 1944 to celebrate our 250th anniversary. It is named after the first Governor of the Bank, Sir John Houblon, and the Governor at the time of the anniversary, Montagu Norman. 

The George Fellowship was established in 2003 to recognise former Governor Sir Edward George’s lifelong service to the Bank, and his role as the first chair of our Monetary Policy Committee.

This page was last updated 26 January 2022

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