, technology developers, representatives from the voluntary and education sectors, unions and the wider public and explore how the bank can maintain stability and reduce uncertainty. inclusive communications also requires more tailored content. our visual summaries of our inflation and the financial stability reports, explain how developments in the global economy and financial system affect the outlook for inflation and financial stability without the need for dense text. deploying social media, including facebook and youtube, can make our messages available directly to a broader audience. new digital products, such as knowledgebank, use accessible language and engaging visuals to help us tell a story about what the bank does. our strategy is working, with major progress over the past five years. for example, female representation in senior roles at the bank has increased from 17 % in 2013 to 31 % today, and is on track for our target of 35 % by the end of 2020. 1 bame representation below senior management is 19 %, up from 13 % in 2013. in 2018 we were one of the first organisations to conduct a special cognitive diversity survey. our results indicate colleagues are generally positive about inclusiveness at the bank on every metric measured. in 2018 we were one of the first organisations to conduct a special cognitive diversity survey to gain a better understanding of how our colleagues feel about working at the bank. the survey measured seven inclusivity metrics including interpersonal interactions, flexible working, communication with leaders as well as recruitment and promotion, and results are cut across twelve different aspects of diversity. our results indicate colleagues are generally positive about inclusiveness at the bank on every metric measured by the survey. and 80 % of colleagues in our annual employee survey reported they think the bank takes diversity seriously, 7 percentage points higher than the uk average. and 87 % of bank colleagues say they are treated with respect as an individual, 6 percentage points higher than the uk average. see also my letter to nicky morgan, chair of the treasury select committee, on 4 july 2018. all speeches are available online at www. bankofengland. co. uk / publications / pages / speeches / default. aspx let me now turn specifically to ethnic diversity at the bank. investing in ethnicity2 our diversity and inclusion strategy has had a positive impact on bame diversity at the bank of england. since we implemented name - blind recruitment processes in march 2018 around one quarter of all recruitment offers ( internal and external ) have been to declared bame candidates. but there is scope for further improvement. the turnover rate

be applied. the plan under a single point of entry ( spe ) strategy is that only the entity at the top of group is put into resolution on the basis that the interdependencies within a group are so extensive that resolving the different operating companies within a group separately is either impossible or not credible. by contrast where a group is organised in a more modular fashion with limited or no interlinkages between the parts, then the resolution can have multiple points of entry ( mpe ). it has been convenient for exposition to set up this dichotomy between spe and mpe. but in practice, many spe firms will have around the periphery subsidiaries that could be resolved separately or allowed to enter an insolvency without adverse consequences for the resolution of the firm. and many mpe banks are, in practice, collections of spe strategies. they may be set up to be resolved jurisdiction by jurisdiction. but within jurisdictions the resolution is likely to involve keeping together in resolution the legal entities within that jurisdiction. all of this can be summed up with two observations and one implication. the first observation is that the resolution strategy will govern decisions on mrel. the second is that tlac can and will be applied for g - sibs through the setting of mrel requirements. in other words tlac is just one particular expression of how we will set mrel for firms where, as authorities, we are likely to face no choice other than bail - in in order to continue the firm ’ s economic functions. the implication is that there needs to be some level of disclosure about resolution strategies and liability structures at the legal entity level. otherwise investors will not be able to price the risks they are exposed to. the basel committee intends to consult on new pillar 3 standards for this purpose by the end of this year. this is welcome. but it is welcome too that banks are starting to do more to provide this kind of information to investors. bail - in is used here to cover imposing losses on creditors either through use of a bail - in tool or through a bridge transaction. bis central bankers ’ speeches let me turn to my second theme – the relationship between setting mrel and tlac and resolution planning. the tlac standard describes an end - point. beyond proposing a conformance date of 2019 at the earliest, it does not describe how the standard will be implemented and what will happen in transition. similarly european resolution authorities setting mrel in the eu will