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 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 tenured full or chaired professors. Fellowships will also be available to all other ranks, including postdoctoral or equivalent applicants. The length of the fellowship is flexible, but will not normally be less than one month or longer 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 reflect the time demand for their research proposal. 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. We are particularly interested in applications from candidates undertaking their fellowship whilst on sabbatical leave.

Fellows will be provided with office accommodation at the Bank of England. 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 2024/25 are now closed. We will re-open in Autumn 2024 for applications for the 2025/26 academic year. 

For queries about the fellowships you can email, or call +44 (0)20 3461 3834.

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 03 November 2023