If the U.K. adopts a digital currency, citizens shouldn’t expect cash and coins to disappear. That’s according to Bank of England Governor Andrew Bailey, who said Saturday (Oct. 26) that the central bank will continue to provide paper money “for as long as people want.” ...
New capital requirements could help Great Britain’s smaller lenders compete in the country’s mortgage market. That’s according to a report published by Reuters on Thursday (Sept. 12), the same day the Bank of England said it would scale back its capital rules. The goal here,...
The largest banks in the United Kingdom are reportedly cutting costs to protect profits as interest rates begin to decline. The moves come as the Bank of England voted this week to cut rates for the first time in four years and signaled that there...
The Bank of England (BoE) is conducting a new series of experiments with central bank digital currencies (CBDCs) for retail use. Citing growing innovations and risks in the payments industry, BoE said in a Tuesday (July 30) discussion paper that “central banks must be quick to...
April 03, 2024
Tokenization is gaining momentum on the global stage, and with commercial applications. The Bank for International Settlements announced Wednesday (April 3) that it is working in tandem with seven central banks — including the Federal Reserve Bank of New York — to test tokenization in a bid to improve cross-border payments. In addition, Project Agorá, as the initiative is known, will […]
July 18, 2023
As you read this, the very nature of money is being interrogated and experimentally reshaped. “There’s a huge global trend going on right now into exploring the intricacies, complexities, difficulties...
July 17, 2023
When it comes to embracing new ways of doing things in payments — adopting standards, fostering new use cases — boring is good. Boring implies there have been no hiccups...
April 26, 2021
Focus may be on China’s progress with the digital yuan — and whether the dollar’s dominance will be threatened — but in the last few days, a slew of announcements...
October 28, 2024
If commercial banks don’t provide retail payments innovation, central banks should be prepared to offer a retail central bank digital currency (CBDC), Bank of England Governor Andrew Bailey said Saturday (Oct. 26). In a speech given at the Group of Thirty’s Annual International Banking Seminar in Washington, Bailey said commercial banks are the best home […]
October 27, 2024
If the U.K. adopts a digital currency, citizens shouldn’t expect cash and coins to disappear. That’s according to Bank of England Governor Andrew Bailey, who said Saturday (Oct. 26) that...
September 12, 2024
New capital requirements could help Great Britain’s smaller lenders compete in the country’s mortgage market. That’s according to a report published by Reuters on Thursday (Sept. 12), the same day...
August 02, 2024
The largest banks in the United Kingdom are reportedly cutting costs to protect profits as interest rates begin to decline. The moves come as the Bank of England voted this...
