In a decision that will anger vegans across the UK, the Bank of England has rejected the introduction of palm oil as a replacement for the use of animal fats in future production runs of polymer bank notes, citing environmental concerns and excessive costs.
Today, on the 200th anniversary of Jane Austen’s death, Governor Mark Carney unveiled the design of the new £10 note featuring the world-renowned author.
The Bank of England has extended direct access to RTGS accounts to non-bank payment service providers as part of a wide-ranging effort to inject more competition and innovation into the UK's payments systems.
The Bank of England says that a distributed ledger technology proof-of-concept with Ripple has reinforced its intention to make a new real-time gross settlement (RTGS) platform compatible with DLT usage in the private sector.
The UK's banks will have to change one million customer sort codes under new ring-fencing rules set to be introduced in 2019.
Branchless CivilisedBank has received a licence from the Bank of England ahead of a planned launch early next year.
Bank of England governor Mark Carney is the latest top banker to have fallen victim to an e-mail prankster, joking with the culprit about the drinking habits of former governor Eddie George.
The Bank of England is to take over the direct running of the UK's Chaps high value payment system as part of a blueprint for a rebuild of its real-time gross settlement platform to accommodate new market entrants and a future-proofed interface to distributed ledger technology.
The UK's Payment Systems Regulator and the Bank of England have agreed a framework for the consolidation of Bacs, the Cheque and Credit Clearing Company and the Faster Payments Scheme.
The Bank of England is inviting applications for its latest accelerator project with an emphasis on conducting proofs of concept around machine learning and privacy in distributed ledgers.
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