Tagged: bank of england

The Bank of England Future Forum 2017 – Liverpool

On 16 November, for Future Forum 2017, the Governor, Deputy Governors and Chief Economist will spend the day in and around Liverpool, meeting with a wide cross-section of the public.  We’ll be talking about economics and the economy and explaining to people how the financial… Read More

Bank of England: Effective Competition & Financial Service Regulation

Earlier this month, the Bank of England published a staff working paper entitled, “Competition and prudential regulation”. The document is the work of Paul Fisher, former Deputy Head of the Prudential Regulation Authority (PRA) and Executive Director for Supervisory Risk and Regulatory Operations, and Paul A Grout,… Read More

Bank of England to Allow Non Bank Payment Providers Access to RTGS

​The Bank of England has announced that non-bank payment service providers (PSP) are now eligible to apply for a settlement account in the Bank’s RTGS or Real Time Gross Settlement system. For Fintech firms, holding their own settlement account at the Bank enables direct access… Read More

Bank of England Publishes 3rd Round of Proofs of Concept from Fintech Accelerator

  The Bank of England has has published summaries of the third round of Proofs of Concept (POCs) completed by its Fintech Accelerator. Launched a year ago, the Accelerator seeks to deploy innovative technologies on issues relevant to the Bank’s mission and operations. The Bank… Read More

Bank of England Funding for Lending: “Worrying Trend”

The Bank of England is out with some data on the Funding for Lending Scheme (FLS). The FLS seeks to encourage more lending to the UK economy than would have been the case in the absence of the plan.  The current Extension allows participants to… Read More

Bank of England Governor Mark Carney Explains How they are Making Certain Fintech Innovation Thrives

Last week at the International Fintech Conference in London, Mark Carney, Governor of the Bank of England, delivered a speech on what he and the bank is doing to assure that Fintech innovation survives in the world’s leading Fintech Hub. Carney is an early convert… Read More

Fintech Accelerator: Bank of England Launches New Community to Bring Fintech Together

The Bank of England Fintech Accelerator has launched a new community designed to bring Fintech companies and organizations together to engage with the bank.  The community will better allow the Bank to share ideas and insights while the Bank supports the development of the Fintech sector…. Read More

Governor of the Bank of England: Fintech Could Signal the End of Universal Banking as We Know It

The current Governor of the Bank of England, Mark Carney, has engendered much respect from the land of Fintech. An unabashed supporter of the potential for financial innovation to improve financial services for all, Carney has periodically addressed the subject of Fintech with pointed speeches…. Read More

Bank of England: We Set Up the Fintech Accelerator to Develop Our Practical Experience of Fintech

In a speech this past week by Charlotte Hogg, Chief Operating Office of the Bank of England, she welcomed the launch of the Bank’s Fintech Accelerator while explaining their mission. Hogg stated; “We set up the Bank’s Fintech Accelerator in the Bank, launched in June… Read More

Here is the Bank of England Document on the Central Bank Issuing Digital Currency

The advent of digital currencies and blockchain technology has engendered great consternation and interest from policy makers around the world. The concept of bitcoin or other cryptocurrencies may be the next step in fiat currency. Having made the leap from barter to coins and then… Read More

Bank of England Embraces Fintech & Collaboration

“It is hardly possible to overrate the value…of placing human beings in contact with persons dissimilar to themselves, and with modes of thought and action unlike those with which they are familiar…such communication has always been…one of the primary sources of progress.” –John Stuart Mill… Read More

ThinCats Founder Caley Calls on Hammond to Do More for Savers

Last month, the Bank of England reduced the Bank Rate from 0.5% to 0.25% as part of a broader stimulus package to buttress the UK economy following Brexit aftershocks. These interest rate cuts make money cheaper to borrow but this means savers are earning less. Moneyfacts… Read More

Assetz Capital Reports: Peer-to-Peer Lending Expected to Thrive As Bank of England Slashes Interest Rates

Assetz Capital one of the UK’s largest peer-to-peer lenders, announced it is predicting that both savers and borrowers will continue to turn to alternative finance companies in increasing numbers as Bank of England slashes interest rates from 0.5% to 0.25%. The website reported, peer-to-peer lending platforms remain largely untouched… Read More

Bank of England Cuts Rates: Alternative Finance Leaders Respond

  The Bank of England (BoE) has cut its benchmark rate by 0.25% – the first time in 7 years. The pound quickly moved lower reacting to the announcement. The move was telegraphed several weeks back in reaction to Brexit fallout. The interest rate cut… Read More

Bank of England Relaxes Capital Requirements, But Have Traditional Banks Fallen Short of Boosting SME Growth in the Past?

Yesterday the Financial Policy Committee (FCP) of the Bank of England relaxed bank capital requirements in a proactive move designed to stave off a looming, Brexit driven slowdown. Bank of England Governor Mark Carney stated; “The UK has entered a period of uncertainty and significant… Read More

Here is the Speech by the Governor of the Bank of England, Mark Carney, on the Brexit

Embedded below is the speech by Mark Carney, the Governor of the Bank of England. The remarkable situation engendered by the EU referendum results compelled Carney to deliver a calming speech effectively telling the UK it could weather the storm; “The UK can handle change…. Read More

ThinCats Chairman Lauds BoE “Safe Pair of Hands”, Predicted Lower Rates Bad for Savers

Mark Carney, Governor of the Bank of England, stated in a speech on the Brexit yesterday that while the “result of the referendum is clear. Its full implications for the economy are not”, he also affirmed it was something the UK economy can handle. EPTSD:… Read More

It’s a Fintech World: Bank of England Launches Fintech Accelerator

The Bank of England is getting into the Fintech space.  In a speech by Mark Carney, Governor of the Bank of England, Carney embraced the disruptive transformation that is impacting all forms of finance.  He pointed to Fintech advocates who believe; “…the wave of innovation… Read More

Here is the Speech by Bank of England Governor on the Promise of Fintech

Mark Carney, the Governor of the Bank of England, delivered a speech today at the Lord Mayor’s Banquet for Bankers and Merchants of the City of London, entitled “Enabling the FinTech transformation: Revolution, Restoration, or Reformation?” Noting that “transparency is the hallmark of modern central… Read More

Bank of England Holds Rates Steady, Points to Mixed News on Near-Term Prospects for Global Growth

The Monetary Policy Committee (MPC) of the Bank of England has decided to hold steady with a 0.5% Bank Rate. The MPC also voted unanimously to maintain the stock of purchased assets financed by the issuance of central bank reserves at £375 billion. The BOE… Read More