June 22, 2019 @ 8:30 am By Cali Haan  |  

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

June 20, 2019 @ 1:02 pm By JD Alois  |  

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

April 24, 2019 @ 9:52 am By JD Alois  |  

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

April 8, 2019 @ 11:07 pm By Cali Haan  |  

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

February 14, 2019 @ 2:39 pm By JD Alois  |  

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

January 27, 2019 @ 12:47 pm By Cali Haan  |  

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

January 26, 2019 @ 10:49 am By Cali Haan  |  

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

November 17, 2018 @ 2:20 pm By JD Alois  |  

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

November 2, 2018 @ 11:33 am By JD Alois  |  

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

October 29, 2018 @ 6:23 pm By JD Alois  |  

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

October 19, 2018 @ 9:42 pm By Samantha Hurst  |  

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

September 12, 2018 @ 3:36 pm By JD Alois  |  

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

September 11, 2018 @ 7:53 am By JD Alois  |  

At the request of the Chancellor of the Exchequer, Mark Carney, the Governor of the Bank of England, has seen his term extended until January 2020. In publicly published letter, Chancellor Philip Hammond officially extended his request that Carney remain at the Bank; “Further to… Read More

July 25, 2018 @ 11:46 am By JD Alois  |  

Earlier this week, the Bank of England (BoE) published a document outlining progress on their proof of concept (POC) project for a “renewed Real-Time Gross Settlement (RTGS) service that will deliver a resilient, flexible and innovative sterling payment system for the United Kingdom to meet the… Read More

June 27, 2018 @ 6:31 am By JD Alois  |  

The Bank of England has just issued its most recent Financial Stability Report. Of course, the Bank has its hands full right now with the Brexit drums pounding. It’s all hands on deck to assure nothing cataclysmic occurs when the European divorce is finalized. There… Read More

June 22, 2018 @ 2:44 am By JD Alois  |  

In a sweeping speech that was broadly positive, Bank of England Governor Mark Carney set the tone for what will be his final year leading the central bank. Carney said that an “effective financial system must be resilient, fair and dynamic” to deal with tectonic… Read More

June 6, 2018 @ 11:00 am By JD Alois  |  

The Bank of England has launched a six week consultation to adopt a common global language on payments known as ISO 20022. The Bank notes that existing standards are fragmented and inconsistent thus complicating the important aspect of the financial industry. By creating a standard,… Read More

May 21, 2018 @ 2:45 pm By JD Alois  |  

Today was the first meeting of the UK Cryptoassets Taskforce. The previously announced group involves the participation of the Financial Conduct Authority (FCA), Bank of England (BoE), HM Treasury and other Senior government officials. Some of the named participants include, Katharine Braddick, Director General of… Read More

May 2, 2018 @ 11:40 am By JD Alois  |  

The Governor of the Bank of England, Mark Carney, has appointed Huw van Steenis as a Senior Adviser on the long-term future of the financial system. According to the Bank, van Steenis will work with colleagues from around the Bank to deepen its understanding of… Read More

March 22, 2018 @ 4:52 pm By JD Alois  |  

Dave Ramsden, Deputy Governor of Bank of England, addressed the topic of Fintech within the Bank in a speech today. The presentation saw the banker announce a new Fintech Hub within the Bank following the success of its internal Fintech Accelerator; “We are now looking… Read More