UK Finance Minister, Bank of England Governor in Contact Over Credit Suisse – Source
British finance minister Jeremy Hunt and Bank of England Governor Andrew Bailey are in regular contact this weekend over the fate of Credit Suisse Group AG (CSGN.S), according to a source with knowledge of the matter.
Bank of England to Place SVB UK Branch Into Bank Insolvency Procedure
Under the Bank Insolvency Procedure, bank liquidators will manage SVBUK's other assets and liabilities, with recoveries distributed to its creditors.
Bank of England Shuts Down Silicon Valley Bank's UK Branch After US Regulators Close Parent Company
After U.S. regulators shut down Silicon Valley Bank (SVB) on Friday, the Bank of England has closed the company’s U.K.-based arm. The central bank explained that it intends to place the subsidiary into bank insolvency procedures.
Wholesale Digital Pound Is a Question of How, Not When, Says Bank of England
While the UK government and Bank of England are pushing forward their exploration of a retail digital pound, work on a wholesale solution is also a priority — and a far more certain one.
Bank of England Mentions Ripple in Its Digital Pound Consultation Paper
Leading blockchain company Ripple has played significant roles in helping central banks in different parts of the world, including Bhutan. Following its considerable efforts towards the development of CBDC, Ripple was recently mentioned in the Bank of England (BoE) consultation paper on the digital pound, U.K.’s digital currency.
Bank of England Releases Paper on Digital Pound CBDC
On Feb. 7, the Bank of England and the HM Treasury department published a consultation paper on the “digital pound,” a UK central bank digital currency.
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. On Feb. 7, a joint consultation paper on Central Bank Digital Currencies (CBDCs) is set to drop, with the BoE and Treasury seeking feedback on how, and if they should proceed with building a CBDC. In a Feb. 6 public statement, Finance Minister Jeremy Hunt indicated that the two entities would seek to develop a modernized digital payments system that doesn’t necessarily negate the use of cash. (Cointelegraph)
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.
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.
Bank of England Opens Bids for CBDC Sample Wallet Proof of Concept
The Bank of England is <a href="https://www.digitalmarketplace.service.gov.uk/digital-outcomes-and-specialists/opportunities/18948">seeking</a> a proof of concept for a sample wallet for a Central Bank digital currency and will take applications through Dec. 23.
