Bank of England RSS
PSR: New Payment System Operator formed
The Payment Systems Regulator (PSR) and Bank of England (BoE) have announced that the Payment System Operator Delivery Group (PSODG) has completed the necessary steps to deliver against the mandate that the regulators tasked it with. Following the appointment of Melanie Johnson as its first chair, work will continue at pace to deliver the New [...]
The post PSR: New Payment System Operator formed appeared first on Payments Cards & Mobile.
BoE allows UK’s non-bank PSPs to gain access to RTGS accounts
The Bank of England has extended direct access to Real Time Gross Settlement (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 widely-trailed move is expected to open up a competitive space which has long been the preserve of [...]
The post BoE allows UK’s non-bank PSPs to gain access to RTGS accounts appeared first on Payments Cards & Mobile.
UK payment systems represent systemic risk to financial stability – central bank consolidation underway
In a recent announcement, the UK’s Payment Systems Regulator and the Bank of England (BoE) agreed a framework for the consolidation of Bacs, the Cheque and Credit Clearing Company and the Faster Payments Scheme. The BoE has now gone one stage further and announced it will it will set out plans by the middle of [...]
The post UK payment systems represent systemic risk to financial stability – central bank consolidation underway appeared first on Payments Cards & Mobile.