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BOE: Banks Don't Get Protection From Digital Currencies

PYMNTS

The BoE is among the global regulators looking at how to deal with digital currencies, which have become more of a clear prospect for the near future as the pandemic keeps people away from physical spaces. Cunliffe said it isn't the BoE's job "to protect bank business models,” Reuters reported.

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The Bank of England Blinks

South State Correspondent

The BOE also announced that the monetary policy committee which next meets in November “will not hesitate to change interest rates by as much as needed to return inflation to the 2% target.” Perhaps the BoE blinking today will provide a catalyst to soften the tone. and refi apps falling 10.9%.

Policies 195
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Most UK Retailers Too Small To Get Bailout Loans, Group Says

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The Bank of England (BoE) is excluding many businesses from its short-term loans for coronavirus -related relief, critics say, by including restrictions based on credit ratings and short-term commercial paper use, according the Financial Times.

Retail 130
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Today In Digital-First Banking: Mastercard Adds A2A To Business Payments Offering; Britain’s 'Recognise' Receives Restricted Banking License

PYMNTS

In today’s top news in digital-first banking, Mastercard has added a new account-to-account (A2A) product to its Track Business Payment Service, while Recognise has received a restricted banking license from U.K. Mastercard Adds Account-to-Account to Business Payments Service. BOE: Banks Don't Get Protection from Digital Currencies.

Payments 130
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BoE Boss Stresses Reverse Factoring Amid Coronavirus

PYMNTS

The incoming Bank of England (BoE) Governor Andrew Bailey said that small and medium-sized businesses (SMBs) might need loans from Threadneedle Street and the government to help with supply chain disruptions from the coronavirus outbreak, according to reports on Thursday (March 5). He added that the virus is “evolving very quickly. …

Policies 130
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Bank Of England Ups Monzo’s Capital Requirements

PYMNTS

The Financial Times (FT) reported the new requirements are among the first signs the Bank of England ( BoE ), the United Kingdom’s (U.K.) In its audit, Ernst & Young wrote the pace of improvement is not keeping up with the pace of growth in the business and the accompanying risks.

Capital 196
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Peer-To-Peer Lenders Seek BoE Bailout

PYMNTS

It’s asking the Bank of England (BoE), as well as the country’s treasury, to give it access to stimulus funds so that it has liquidity for banks. There are established schemes run by the BoE that pump liquidity into the system in the event of these situations,” said Rhydian Lewis, CEO of RateSetter.

Lending 143