The amount of cash circulating in the UK economy is twice the level of a decade ago, says the Bank of England in a Knowledge Bank primer on the introduction of new plastic banknotes.
Intercontinental Exchange (ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, today announced that the Bank of England has authorised ICE Clear Europe as a central counterparty (CCP) in accordance with the European Market Infrastructure Regulation (EMIR).
The Bank of England has set a provisional 2020 deadline for the completion of a wholesale revamp of the UK's real-time gross settlement (RTGS) system, with the aim of improving stability and increasing the scope for electronic settlement in central bank money.
The Bank of England's plastic £5 note enters into circulation Tuesday, but the launch of the new fiver will be a non-event for the 30% of the UK population who claim only to use cash "if they absolutely have to", according to research from Worldpay.
The Bank of England is advertising for an economic research lead at its digital currencies team as it steps up its investigation into a central bank-issued 'Britcoin'.
The introduction of a central bank digital currency (CBDC) could significantly boost gross domestic product, new research from the Bank of England suggests.
Once the preserve of anarcho-libertarians, digital currencies and their underlying distributed ledger technology (DLT) are making their way onto the agenda at the heart of the British establishment as the House of Lords prepares to hear from a top Bank of England official about the prospects for a 'Britcoin'.
Bank of England governor Mark Carney cancelled his annual set piece speech to the industry at London's Mansion House last night following the death of Labour MP Jo Cox, who was killed by an assailant at her constituency office in West Yorkshire earlier in the day.
The Bank of England is bidding to give old fashioned cash a sheen of 21st century technological glamour for the unveiling of the new plastic fiver, building a slick new website, YouTube promo video and even a virtual reality app.
Today, Bank of England Governor, Mark Carney, announced that J.M.W. Turner will appear on the next £20 banknote due to be issued by 2020.
© Finextra Research 2016