Borrowing by U.K. banks from a certain Bank of England facility is reportedly at the highest level since the pandemic. As Bloomberg News reported Tuesday (March 4), this is happening as the country’s central banks push to drain extra liquidity from the financial system has...
Open banking’s roots lie with the United Kingdom, where PSD2, a decade ago, gave a tailwind to banks’ “opening” their data to third-party providers. As noted in a PYMNTS interview with Marion King, chairperson and trustee of the U.K.’s Open Banking Ltd. regulatory and advocacy...
The Bank of England could establish a “concierge service” to help foreign companies do business in the United Kingdom. It’s a similar service to one already available in Singapore, the Financial Times reported Monday (Jan. 20), citing a letter from Sam Woods, head of the...
New York’s state financial watchdog launched a resource-sharing partnership with the Bank of England. The Transatlantic Regulatory Exchange (TRE) lets the New York Department of Financial Services (DFS) and other regulators exchange staff, allowing for greater sharing of expertise and resources, according to a Monday...
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...
March 05, 2025
The Bank of England is weighing an increase to its retail deposits leverage ratio threshold. Such a move, the central bank’s Prudential Regulation Authority (PRA) said Wednesday (March 5), would exempt smaller banks from the rules governing the U.K.’s banking giants. “Guarding against excessive leverage in our banking system is essential for economic stability, but we should achieve that […]
March 04, 2025
Borrowing by U.K. banks from a certain Bank of England facility is reportedly at the highest level since the pandemic. As Bloomberg News reported Tuesday (March 4), this is happening...
January 20, 2025
The Bank of England could establish a “concierge service” to help foreign companies do business in the United Kingdom. It’s a similar service to one already available in Singapore, the...
January 13, 2025
New York’s state financial watchdog launched a resource-sharing partnership with the Bank of England. The Transatlantic Regulatory Exchange (TRE) lets the New York Department of Financial Services (DFS) and other...
