Search results for "BOE"
Sunday
2024/10/27
01:30DailyNews

Bank of England Governor: CBDC will not replace cash

Andrew Bailey, the Governor of the Central Bank of England, said that the Bank of England will not replace cash as people still need it. At the same time, he supports the issuance of wholesale Digital MoneyCBDC, but is cautious about the issuance of retail CBDC. He believes that CBDC innovation should be opened to the private sector to promote the digital modernization of commercial banks' payment systems.
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01:23DailyNews

Bank of England Governor: Will continue to provide cash and is building a retail CBDC for innovation

Andrew Bailey, Governor of the Bank of England, said that evidence shows that people still need cash and it will continue to be provided. The UK Central Bank is designing a digital version of the pound, but it has not yet been decided whether to actually launch it. Bailey supports the issuance of wholesale CBDC, but is cautious about the issuance of retail CBDC. He believes that CBDC should be open to the private sector to promote the modernization of digital payment systems and accelerate progress in cross-border payments.
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Wednesday
2024/10/02
02:07DailyNews

The Central Bank of the United Kingdom and the Financial Conduct Authority of the United Kingdom have launched a digital securities sandbox

The Bank of England and financial regulatory authorities have launched a digital securities sandbox aimed at researching the application of digital ledger technology to the certification, maintenance, and settlement of financial securities. Regulators believe that these technologies have the potential to improve market efficiency, transparency, and resilience, reduce process costs and accelerate speed, while promoting the trading, settlement and issuance of digital securities in the UK. The project will comply with the regulations of the Bank of England and the Financial Conduct Authority.
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02:00DailyNews

The Central Bank of the UK and the FCA have launched a digital securities sandbox to explore the use of DLT in financial securities.

The Central Bank of the United Kingdom and the Financial Conduct Authority have launched a digital securities sandbox, allowing companies to explore the use of digital ledger technology for financial securities to improve efficiency, transparency, and flexibility, reduce costs, promote the trading, Settlement, and issuance of digital securities, and enhance the UK's position as a global financial center.
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12:30DailyNews
The Financial Times reported that the Bank of England (BoE) and the Financial Conduct Authority (FCA) will take a "proactive" and flexible regulatory approach through the Digital Securities Sandbox (DSS). Sashi Mills, Executive Director of the Bank of England, said this will enable regulatory agencies to adopt new approaches, maximize the potential benefits of innovation, and "manage financial stability risks". Through DLT, DSS aims to alleviate the inefficiency in the "post-trade environment", which can "drop the entry barriers for providers" while enhancing the flexibility of the financial market.