Tagged: bank of england

The Bank of Canada, Bank of England, Bank of Japan, ECB, Sveriges Riksbank, Swiss National Bank, and BIS Partner on Review of Central Bank Digital Currencies

A grouping of prominent central banks along with the Bank for International Settlements, have joined together to review the potential for Central Bank Digital Currencies (CBDCs). The banks and organizations include: the Bank of England, Bank of Canada, Bank of Japan, European Central Bank (ECB), … Read More

European Central Bank Publishes Paper on Advantages and Risks Associated with CBDCs

CBDCs Could Disintermediate in a Structural Way the Banking System. The European Central Bank (ECB) has published a paper on Central Bank Digital Currencies (CBDCs).  CBDCs are the state form of stablecoins – cryptocurrency based off a single asset like the Dollar, Euro or Pound… Read More

Regtech: NYDFS Is Reportedly Planning to Hire a Director to Help the Regulator Design, Implement, and Manage a Regulatory technology Platform

The New York Department of Financial Services (NYDFS), the financial and digital currency regulator for the state of New York, appears to be to developing regulatory technology (Regtech) solutions in order to enhance its existing oversight and supervising capabilities. The NYDFS is reportedly looking for… Read More

FCA CEO Andrew Bailey to Replace Mark Carney as New Governor of Bank of England

Earlier today, the UK government announced its selection Andrew Bailey to replace Mark Carney as Governor of the Bank of England. Carney’s departure has long been anticipated and, in fact, he extended his tenure at the Bank to help provide an element of stability in… Read More

Bank of England Governor Mark Carney Appointed as UN Special Envoy for Climate Action and Finance

Mark Carney, the Governor of the Bank of England, has been appointed as the United Nations Special Envoy for Climate Action and Finance. As part of this role, Carney will support the Secretary-General’s climate strategy by galvanizing climate action and transforming climate finance, according to… Read More

Bank of England Reports that Machine Learning Methods in Financial Services Could Enhance Business Processes

A report from the Bank of England (BoE) notes that the application of machine learning (ML) methods in the financial services sector could enhance routine business processes.  Improved software and hardware and increasing volumes of data have enhanced the pace of ongoing ML development, BoE’s… Read More

Bank of England to Become First Global Regulator to Stress Test Its Financial System Against Climate Pathways

The Bank of England (BoE) is set to become the first global regulator to perform stress tests on its systems against various “climate pathways,” BoE Governor Mark Carney stated. Carney, whose comments came during the Task Force on Climate-related Financial Disclosures (TCFD) summit, held in… Read More

Bank of England Fintech Webinar: New Economy, New Finance, New Bank

Reflecting the same name as a speech delivered by current Bank of England Governor Mark Carney, the BoE has scheduled a Fintech Webinar on New Economy, New Finance, New Bank. The webinar will take place next Wednesday, October 9th. According to the registration page, the… Read More

Bank of England Governor Says DLT Settlement Systems Could Save Billions, Facebook’s Libra Must Be Compliant Before Launch

Bank of England Governor Mark Carney told colleagues at the Lord Mayor’s Banquet for Bankers and Merchants of London June 20th that DLT (distributed ledger technology, also known as “blockchain”) used for financial settlements could save, “….billions of pounds in capital and liquidity that can be… Read More

A Future of Fintech: Bank of England Publishes Future of Finance Report Identifying Trends Shaping Financial Services

The Bank of England has published a report entitled, “Future of Finance: Review on the Outlook for the UK Financial System: What it means for the Bank of England.” The report is authored by Huw van Steenis. According to the document, van Steenis’ mission was… Read More

Hunt for New Governor of Bank of England Commences

Bank of England Governor Mark Carney is on his way out. Originally, Carney was expected to step down in June of 2019. At the request of the Chancellor of the Exchequer, Carney was asked to extend his term as the UK attempted to manage Brexit… Read More

Bank of England Cashier: Cash Use Declining But Cash Still Here

Sarah John, Chief Cashier at the Bank of England told Currency Conference 2019 attendees in Dubai this week that use of cash is declining in the UK but that bank notes are not yet passé. John cited statistics showing that cash use dropped from 61%… Read More

Bank of England FMI Annual Report: The Growth of Fintech Continues to Have an Impact

The Bank of England (BoE) has published its Supervision of Financial Market Infrastructures (FMIs) – Annual Report. And inevitably buried within there are some interesting comments when it comes to innovations in finance. The Bank regulates FMIs in three broad categories: payment systems, central securities depositories… Read More

Bank of England Refusing to Hand Over Venezuela’s Gold; Protestors in Toronto Denounce “Interference” in Venezuela

Sources to Bloomberg have claimed that The Bank of England (BOE) is refusing to release $1.2 billion USD of Venezuela’s gold to the country’s officials. A delegation led by Calixto Ortega, president of Venezuela’s central bank,  reportedly visited London in December seeking access to the… Read More

Senior Bank of England Advisor Believes Cryptocurrencies Not a Threat to Traditional Finance

Huw van Steenis, a senior adviser to the Bank of England tasked with “leading a review on the future of finance” told Bloomberg in Davos this week that he believes that cryptocurrencies do not pose a threat to mainstream finance: “I’m not so worried about crytocurrencies…. Read More

Bank of England, Bank of Canada & Monetary Authority of Singapore Join in Publishing Report on Payments and Possible Use of Blockchain

CROSS-BORDER INTERBANK PAYMENT AND SETTLEMENTS: Emerging opportunities for digital transformation Three governmental agencies have collaborated on a report pertaining to payments and settlements seeking to join in a push for a unified approach to this sector of Fintech. The Bank of England, Bank of Canada… Read More

Bank of England Hosts Future Forum with Theme of “the Future of Money”

The Governor of the Bank of England, Mark Carney, shared details of the Bank’s annual Future Forum today. The “Future Forum 2018” will have the theme of “Let’s Decide the Future of Money”. Carney, typically a vocal proponent of Fintech innovation, said: “… this is a chance… Read More

UK Government Taskforce Publishes Final Report on Cryptoassets

In the wake of the Autumn Budget  delivered by Chancellor of the Exchequer Philipp Hammond today, the Financial Conduct Authority (FCA), Bank of England, and HM Treasury has published their final report on the topic of regulating cryptoassets and distributed ledger technology (DLT/blockchain). The Cryptoasset… Read More

Bank of England Announces New Student Fintech Competition

Bank of England (BoE) announced earlier this week the launch of its new student fintech competition. The bank revealed that as a central bank of the UK it is now working to promote “the good of the people of the UK” by maintaining monetary and financial… Read More

United Kingdom and Singapore Commit to Cooperate More Closely on Financial Services Including Fintech Bridge

The United Kingdom and Singapore held their 4th joint meeting of financial services regulators and policymakers. The meeting took place in London yesterday where officials discussed regulatory initiatives and standards of conduct in the financial sector. Both the UK and Singapore have pursued Fintech innovation… Read More

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