Bank of England - News, Articles & Research

UK Finance baulks at proposed £20,000 upper limit for future Britcoin

UK Finance, the collective voice for the UK banking and finance industry, has clashed with the bank of England on the proposed £10,000 to £20,000 ceiling on individual holdings in a future central bank digital currency, arguing that such a limit could result in a run on bank deposits.

06 July 2023

News/payments

UK’s CHAPS system migrates to ISO 20022

The UK’s high-value payments system, CHAPS, has migrated to the ISO 20022 financial messaging standard.

21 June 2023

News/crypto

BIS and Bank of England complete CBDC project

A pilot project involving central bank digital currencies (CBDCs) jointly run by the Bank of England (BoE) and the Bank of International Settlements (BIS).

16 June 2023

News/payments

Bank of England finds new use cases for DLT in synchronised setttlement

The Bank of England and the Bank for International Settlements have successfully completed a DLT-based pilot to assess the use of synchronous settlement in central bank money.

19 April 2023

News/people

Bank of England begins building Britcoin team

The Bank of England has opened recruitment for staff to oversee the development of its proposed central bank digital currency.

11 April 2023

Company announcement/regulation

PRA censures Wyelands Bank for breaching large exposure limits

The Prudential Regulation Authority (PRA) has censured Wyelands Bank Plc (Wyelands) for wide-ranging significant regulatory failings between 21 December 2016 and 28 May 2020, which spanned breaches relating to large exposure limits, capital reporting, governance and risk controls and PRA Own Initiative Requirements (OIREQs) and poor retention of WhatsApp messages.

04 April 2023

Company announcement/payments

UK regulators conduct 2022 review of supervisory responsibility for payment systems

The Bank of England (BoE), the Financial Conduct Authority (FCA), the Prudential Regulation Authority (PRA) and the Payment Systems Regulator (PSR) have a Memorandum of Understanding (MoU) that sets out the high-level framework the Authorities use to cooperate with one another, in relation to payment systems in the UK.

08 March 2023

News/cloud

Financial Cloud Summit 2023: Exponential change is coming

Kicking off Finextra’s inaugural Financial Cloud Summit, former Dragon’s Den dragon Piers Linney, entrepreneur and investor, founder and CEO of Moblox, set the scene for the day, focusing on cloud strategy, migration and optimisation.

02 March 2023

News/payments

Bank of England says digital pound "more likely than not"

Bank of England deputy governor Jon Cunlifffe has told a committee of MPs that a digital pound has a better than 50/50 chance of coming to fruition.

28 February 2023

News/crypto

UK kicks off consultation on digital pound

The UK government is speeding up its consultation on the introduction of a digital pound in the face of looming threats to monetary sovereignty from privately-backed Big Tech alternatives.

07 February 2023

Company announcement/payments

The Bank of England unveils design of King Charles III banknotes

Today the Bank of England unveiled the design of the King Charles III banknotes.

20 December 2022

News/regulation

TSB fined £48.6 million over operational resilience failures

UK regulators have levied a £48.6 million fine on the TSB for a bungled IT migration programme in 2018 that locked customers out of their accounts for weeks and led to months of ongoing technical problems.

20 December 2022