Bank of England Financial News

19.03 / 09:23

regulation Report HSBC Bank of England SVB Bankruptcy SVB's UK arm issues 15M pounds in bonuses after symbolic bailout: Report

Silicon Valley Bank UK (SVB UK) has granted millions of pounds in employee bonuses, just days after it was rescued by global banking giant HSBC for just 1 pound, a recent report revealed.

13.03 / 13:17

HSBC Bank of England banking Silicon Valley Bank acquires Customers HSBC Acquires Silicon Valley Bank UK for £1 to Safeguard Customers and Taxpayers – What's Going On?

Global banking giant HSBC has acquired the UK subsidiary of now-collapsed lender Silicon Valley Bank for £1 ($1.21) after all-night talks between the government, regulators, and other prospective buyers.

12.03 / 19:03

business regulation Bank of England Silicon Valley UK regulators moving “at pace” to deliver a plan for tech firms hurt by SVB collapse

A plan to rescue startups and tech companies affected by the Silicon Valley Bank collapse is underway in the United Kingdom, according to multiple reports on March 12. The emergency plan will include a cash lifeline to a number of businesses.

12.03 / 04:53

regulation Venture Capital Bank of England Silicon Valley Startups Silicon Valley Bank's UK branch shut down by Bank of England

The Bank of England (BoE) has halted the operations of Silicon Valley Bank’s U.K. branch (SVB UK), stating that it has a “limited presence” and no “critical functions” supporting the financial system in the United Kingdom (UK).

28.02 / 16:43

CBDC Adoption regulation Central Bank Bank of England Bank of England has no tech skills to issue CBDC yet: Deputy governor

The United Kingdom is not ready to issue a central bank digital currency (CBDC) just yet as the Bank of England (BoE) doesn’t have enough expertise at the moment, according to a deputy governor.

28.02 / 01:07

regulation Banks Bank of England UK banking regulator to propose crypto issuing, holding rules after Basel 3 finalized

The United Kingdom’s bank regulator, the Prudential Regulatory Authority (PRA), will propose rules for issuing and holding digital assets, Bank of England (BOE) executive director of the Prudential Policy Directorate Vicky Saporta said in a speech at the bank Feb. 27. The rules will be developed with consideration for Basel III rules and the Financial Services and Markets (FSM) bill now being considered by the Parliament.

14.02 / 16:45

business CBDC Bank of England Bitcoin Community UK think tank launches a crusade against 'surveillance' CBDCs

The U.K. Tax Reform Council has launched a campaign against the Bank of England's plan to introduce a central bank digital currency (CBDC). The non-profit organization warns that such a move could seriously harm individual privacy and lead to intrusive changes to the taxation system.

08.02 / 07:11

business Blockchain Stablecoin Adoption Report Central Bank Bank of England Bank of England thinks digital pound can co-exist with private stablecoins

The United Kingdom is a step closer to launching a Central Bank Digital Currency (CBDC) after releasing a consultation paper explaining the proposed digital pound, which the public has nicknamed “Britcoin.”

07.02 / 08:23

CBDC regulation Central Bank Bank of England UK's digital pound would modernize payments but won't replace cash: Minister

The Bank of England (BoE) and U.K. Treasury are gearing up plans to create a digital currency that could "provide a new way to pay" without necessarily replacing cash.

05.02 / 00:27

CBDC Adoption regulation Bank of England UK is 'likely' to need digital currency, says BoE and Treasury: Report

The Bank of England (BoE) and Treasury believes the United Kingdom is likely to need to create a central bank digital currency (CBDC) by 2030, according to a Telegraph report on Feb. 4.

17.01 / 11:29

CBDC regulation Bank of England Euro Bank of England governor questions need for digital pound

Andrew Bailey, the Bank of England (BoE) governor, expressed skepticism on the need for a digital pound shortly after finance ministers from eurozone countries backed further work on a digital euro.

05.01 / 12:03

business CBDC Adoption Bank of England Bank of England answers professionals' questions about upcoming CBDC wallet

Companies that applied to win over the $244,000 contract to develop a central bank digital currency (CBDC) wallet proof of concept (PoC) for the Bank of England (BOE) provided questions about the project. In response, the central bank published its answers to over 70 questions.

26.12 / 15:53

Adoption regulation Bank of England Sky News FTX collapse calls for 'prudent regulation' in the UK

The collapse of FTX is being viewed as a cautionary tale and a precursor for more prudent regulation by public and private sector players in the United Kingdom.

12.12 / 08:47

Adoption Central Bank Bank of England Bank of England opens applications for 'proof of concept' CBDC wallet

The Bank of England (BOE) is seeking a “proof of concept” for a wallet that will be able to hold a Central Bank Digital Currency (CBDC).

06.12 / 15:37

regulation Bank of England UK government UK crypto services UK crypto bill to restrict services from abroad: Report

Despite the Conservative Party's rhetorical embracement of crypto under the new Prime Minister Rishi Sunak, the upcoming regulatory framework will reportedly tighten scrutiny over the industry. The legislation updates will broaden the powers of the financial regulator and probably limit foreign companies’ operations in the United Kingdom.

23.11 / 00:53

regulation Boeing Bank of England Intuit Bank of England Warned Consumers About DeFi Risks Following FTX Collapse – Regulation Coming Soon?

Bank of England (BoE), the UK’s central bank, warned consumers about the risks of using decentralized finance (DeFi) protocols shortly after the crypto exchange FTX collapsed.

22.11 / 01:05

regulation FTX Bank of England BOE’s Cunliffe says regulation can save crypto from itself, and it’s worth the effort

Bank of England Deputy Governor Sir Jon Cunliffe shared thoughts on cryptocurrency regulation and decentralized finance (DeFi) in a talk on Nov. 21. He intended to speak about stablecoins and central bank digital currency (CBDC), Cunliffe said at a conference in Coventry, but the collapse of FTX as he wrote his draft speech led him to some more general observations as well.

03.11 / 22:41

markets Federal Reserve Bank of England Bitcoin Support Bitcoin’s $20K support looks weak, but pro traders are neutrally positioned

Bitcoin (BTC) has been lingering above $20,000 for the past nine days, but worsening conditions from traditional markets are causing traders to doubt if the support will hold.

03.11 / 16:21

business Bank of England Interest rates Bank of England raises interest rates to 3%, largest jump in 33 years

Desperate times call for desperate measures. The Bank of England, effectively the United Kingdom version of the Federal Reserve, has raised interest rates by the highest rate in 33 years.

19.10 / 19:15

business inflation Bank of England UK inflation rate hits 10.1%, British Bitcoin community responds

Prices in the United Kingdom continue to rise, hitting another 40-year high of 10.1%. According to figures from the U.K’s Office for National Statistics, the Consumer Prices Index (CPI) rose by 10.1% in the 12 months to September 2022, up from 9.9% in August. The 10.1% figure mirrors July’s recent high.

28.09 / 19:33

markets inflation Bank of England Bitcoin Bitcoin holds $19K, but volatility expected as Friday's $2.2B BTC options expiry approaches

This week the $20,000 resistance is proving to be stronger than expected and even after Bitcoin price rejected at this level on Sept. 27, BTC bulls still have reasons to not give up.

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