Articles with tag: bank of england

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UK banks to rise the cost of credit card borrowing, Bank of England says

16 Oct 2020 | Cards

Bank of England has revealed rising rates in approach to Christmas and lenders’ plans to restrict loan products soon.

bank of England, cards, credit, mortgage, lending, industry survey, credit card borrowing, credit cards, cards, UK, United Kingdom

Central banks discuss digital currency amid Facebook's Libra and China's digital yuan

12 Oct 2020 | Cryptocurrencies

A group of seven major central banks including the US Federal Reserve have discussed how a digital currency could look like to help catch up with Facebook’s Libra and China’s digital yuan.

central banks, CBDC, Bank of England, digital renminbi, Facebook Libra, US Federal Reserve

BIS, central banks publish CBDC report laying out key requirements

12 Oct 2020 | Cryptocurrencies

The Bank for International Settlements (BIS) together with a group of seven central banks have published a central bank digital currency (CBDC) report laying out key requirements for CBDC.

CBDC, BIS, Bank of Canada, Bank of England, Bank of Japan, European Central Bank, Federal Reserve, Sveriges Riksbank, Swiss National Bank

ISO 20022 migration to continue despite delays, Deutsche Bank paper

25 Sep 2020 | Online & Mobile Banking

Deutsche Bank has released a new ‘Guide to ISO 20022 migration’ whitepaper, which offers an update regarding industry shift to the de facto global standard for financial messaging: ISO 20022.

ISO 20022, Deutsche Bank, migration, report, Guide to ISO 20022, industry shift, financial messaging standard, global standard, SWIFT, market infrastructures, correspondent banking, Transaction Management Platform, TMP, central transaction processing, ECB, EBA CLEARING, Bank of England

eCurrency brings CBDC benefits to all in ecosystem utilising digital secure currency technology

04 Sep 2020 | Payments General

‘Choices around the technology used for CBDC are important as they would have a significant impact on the extent to which CBDC meets our overall objectives’, The Bank of England

Central Bank Digital Currency, Lars Arvidsson, eCurrency, Bank of England, DLT, digital wallets, central banks, commercial banks, Digital Secure Currency, payment cards, mobile money wallets

On a mission to change business banking for next-gen businesses - interview with Cashaa

28 Aug 2020 | Payments General

The Paypers sat with Janina Lowisz, Co-Founder & VP Corporate Services, Cashaa to learn what next-generation crypto friendly banking services mean

Janina Lowisz, Cashaa, cryptocurrency, crypto payments, banking, fintech, bank account, online payment processor, FCA, Bank of England, IBAN, Euro, Bitcoin

Bank of England selects Accenture for RTGS overhaul

03 Aug 2020 | Payments General

Bank of England has selected Accenture for the overhaul of its Real-Time Gross Settlement (RTGS) service.

Bank of England, Accenture, RTGS, data, payments

UK-based large businesses observe long road to recovery, Deloitte survey

20 Jul 2020 | Payments General

Deloitte has released a survey stating that 49% of the UK’s biggest companies think it will take until the second half of 2021 to recover from the coronavirus pandemic, according to Reuters.

UK, United Kingdom, large businesses, Deloitte, coronavirus, pandemic, Reuters, recovery, Bank of England, Decision Makers’ Panel, jobs, investment, balance sheet, economy

BoE considering the launch of a digital currency

14 Jul 2020 | Cryptocurrencies

Bank of England (BoE), UK’s central bank, has announced the possibility of launching a digital currency.

BoE, digital currency, Bank of England, UK, banks, central bank digital currency, CBDC, payments, coronavirus, COVID-19

UK-based alternative lenders' access to BoE's fund scheme blocked by incumbents

14 Jul 2020 | Payments General

HM Treasury has told non-bank lenders dishing out government-backed loans that they won’t have access to finance from the Bank of England, according to altfi.com. 

UK, alternative lenders, BoE, Bank of England, incumbents, HM Treasury, non-bank lenders, government-backed loans, British Business Bank, fintech loans, fintech

BIS Innovation Hub to expand to new locations in Europe and North America

01 Jul 2020 | Payments General

BIS Innovation Hub has announced plans to extend its reach with new centres over the next two years in collaboration with central banks from Europe and North America.

BIS Innovation Hub, Europe, North America, central banks, BIS Innovation Hub, fintech, Bank of Canada, Bank of England, European Central Bank, Eurosystem, Danmarks Nationalbank, Central Bank of Iceland, Central Bank of Norway, Sveriges Riksbank, Federal Reserve System, Hong Kong Monetary Authority, Monetary Authority of Singapore, Swiss National Bank

As British economy shrinks record 20%, Bank of England 'ready to act'

15 Jun 2020 | Payments General

Bank of England has announced it will be ‘ready to take action’ to help the UK economy weather the coronavirus crisis, according to BBC.

Bank of England, coronavirus crisis, economy, finance, plan, UK, digital, crisis

Bank of England releases recession warnings

07 May 2020 | Payments General

The Bank of England has warned that the UK economy will be hit by recession because of the coronavirus pandemic.

Bank of England, recession, coronavirus, pandemic, technical recession, economic decline, interest rates, economic challenge

Barclays profits plunge with 40 percent

30 Apr 2020 | E-invoicing, SCF & E-procurement

UK-based bank Barclays has announced profits plunged 40% in the first quarter of 2020 as the economic impact of coronavirus battered its customers and prevented them repaying their loans.

Barclays, COVID-19, coronavirus, loans, banks, credit card, SMEs, CBIL, capital, UK, Bank of England

Digital currency issuance could involve private companies, Bank of England says

08 Apr 2020 | Cryptocurrencies

Bank of England (BoE) analysts working on the UK’s central bank digital currency (CBDC) initiative have said during a webinar that there was a distinct possibility that private companies could play a larger part in the issuance and distribution of money.

Bank of England, BoE, central bank digital currency, CBDC, UK, cryptocurrency, Facebook, Libra, stabelcoin, data privacy

Bank of England considers introduction of digital currency

16 Mar 2020 | Cryptocurrencies

The Bank of England has issued a discussion paper considering the introduction of a digital currency in the UK for use by businesses and customers.

Bank of England, digital currency, central bank, bank transactions, bank account, digital pound, United Kingdom

Monzo to relaunch premium accounts

18 Feb 2020 | Online & Mobile Banking

Monzo has announced its plans to relaunch premium accounts by the end of Q1 2020, after closing down its Monzo Plus account offering in Sep. 2019.

Monzo, digital banking digital bank, Bank of England, premium account, Monzo Plus, relaunch, product update, bank deposit

Bank of Lithuania on the potential of central bank digital currencies

30 Jan 2020 | Cryptocurrencies

The Paypers has sat with Aistė Juškaitė, principal economist at the Market Infrastructure Department, Bank of Lithuania to discuss about the potential behind CBDC

CBDC, cryptocurrency, digital currency, monetary laws, Bank of Lithuania, Bank of Canada, Bank of England, Bank of Japan, European Central Bank, Sveriges Riksbank, Swiss National Bank, central bank digital currencies

UK-based digital bank Vive acquires banking license from Bank of England

24 Jan 2020 | Online & Mobile Banking

Vive, a newly established UK-based digital bank, has reportedly acquired a banking license with certain restrictions from the Bank of England (BoE).

Digital bank, Vive, banking, Bank of England, banking license, payments, app

Central banks team up to assess CBDC use cases, and more

23 Jan 2020 | Cryptocurrencies

Some of the world’s largest central banks have decided to team up to assess the potential of developing their own digital currencies (central bank digital currencies - CBDC).

Bank of England, Bank of Canada, BOE, Bank of Japan, European Central Bank, Riksbank, Swiss National Bank, CBDC, digital currency, central bank