News & Analysis as of

FinTech Bank of England

Hogan Lovells

Bank of England consults on longer RTGS and CHAPS operating hours

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The Bank of England (the “Bank”) published a consultation paper (“CP”) on 29 July 2025 on proposals to extend Real-Time Gross Settlement (“RTGS”) and CHAPS operating hours. The CP follows the Bank’s 2024 discussion paper on...more

A&O Shearman

UK's BoE Financial Market Infrastructure Committee responds to HMT recommendations

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The Bank of England (BoE) has published a letter dated 15 July, responding to the Chancellor of the Exchequer's letter that set out the government's recommendations to the BoE's Financial Market Infrastructure Committee...more

A&O Shearman

Mansion House: HMT and BoE announce plans for new UK retail payments model under NPV

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HM Treasury has published an update on the National Payments Vision (NPV), announcing plans to implement a new collaborative model for delivering the UK's next-generation retail payments infrastructure. The Payments Vision...more

Hogan Lovells

The Payments Newsletter including Digital Assets & Blockchain, July 2025

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Key developments of interest over the last month include: the UK government's communications in connection with the Chancellor's annual Mansion House speech, and the launch of its Financial Services Growth and Competitiveness...more

A&O Shearman

Bank of England's FPC publishes July financial stability report

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The Bank of England's Financial Policy Committee (FPC) has published its July financial stability report alongside the record of its 27 June meeting. After assessing the risks to the UK financial system, the FPC reports that...more

Hogan Lovells

Bank of England: an update on the digitalisation of finance

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On 2 July 2025, the Bank of England published a speech delivered by Sasha Mills (Executive Director, Financial Market Infrastructure) at City Week 2025. The speech signals the Bank's support for the digitalisation of...more

A&O Shearman

BoE speech on the digitalisation of money and assets: proposed stablecoin regulatory framework

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The Bank of England (BoE) has published a speech by Sarah Breeden, Deputy Governor for Financial Stability, at the Point Zero Forum. The subject of the speech was the digitalisation of money and assets, and in particular the...more

A&O Shearman

BoE official launch of AI consortium

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The Bank of England (BoE) has announced the launch of the AI Consortium. The consortium will provide a space for public-private engagement to gather input from stakeholders on the capabilities, development, deployment and use...more

A&O Shearman

BoE reports on digital pound developments and implementation

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The Bank of England (BoE) has published a series of documents regarding its work on implementing the digital pound. The Digital Pound Experiment Report on Offline Payments assesses the technical feasibility of implementing an...more

A&O Shearman

UK digital securities sandbox instrument on ancillary FMI activities

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The UK Financial Conduct Authority (FCA) has published its Handbook Notice 128 which (among other things) confirms Handbook changes made by the Digital Securities Depositories Instrument 2025 (FCA 2025/14). The instrument...more

A&O Shearman

Bank of England discusses opportunities in innovating wholesale payments

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Victoria Cleland, Executive Director of Payments, Bank of England (BoE) has given a speech on innovating wholesale payments: building a resilient and innovative future. In the speech, Ms Cleland discusses the BoE's innovation...more

A&O Shearman

Preliminary market engagement exercise for the UK digital gilt instrument pilot

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The UK Chancellor of the Exchequer has announced details of the launch of the procurement process for the pilot digital gilt instrument (DIGIT) issuance. The pilot aims to: (i) enable the government to explore how distributed...more

Skadden, Arps, Slate, Meagher & Flom LLP

UK Government Abolishes Payment Systems Regulator

On 11 March 2025, the UK government announced its decision to abolish the Payment Systems Regulator (PSR) as part of a broader initiative to reduce regulatory burdens and stimulate economic growth. This action is intended to...more

Hogan Lovells

The regulation of FMI - The Bank of England’s priorities for 2025

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The Bank of England has outlined its priorities for 2025 in the regulation of Financial Market Infrastructure. In a speech given on 10 February 2024, the Bank of England (the “Bank”) outlined its priorities for 2025 in the...more

BCLP

AI Regulation in 2025 - Has the UK Government’s Wait-and-See Gamble Played Off?

BCLP on

After a flurry of AI-related papers from the previous UK Conservative government and regulators in 2023 and the first half of 2024 (and the establishment of the UK’s AI Safety Institute and the AI Policy Directorate),...more

Hogan Lovells

Bank of England outlines path to digital pound

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On 14 January 2025, the Bank of England ("BoE") published a design note outlining its current thinking relating to the design of a digital pound (the "Design Note") and a progress update summarising the BoE’s work on...more

Orrick, Herrington & Sutcliffe LLP

NYDFS launches Transatlantic Regulatory Exchange with Bank of England

On January 13, the NYDFS launched the Transatlantic Regulatory Exchange (TRE), an international secondment program with the Bank of England, which would allow collaboration between regulators by exchanging staff. The...more

Hogan Lovells

Comparative Guide: DLT and Innovations in Wholesale Settlement in Central Bank Money (UK)

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In our previous Comparative Guide, we explored innovations in private forms of digital money and money-like instruments available to retail customers, including fiatreferencing stablecoins, e-money and tokenised deposits. As...more

A&O Shearman

Bank of England and UK Financial Conduct Authority Findings on Third Survey of Artificial Intelligence and Machine Learning in UK...

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The Bank of England published the findings of its third joint survey with the U.K. Financial Conduct Authority on the use of Artificial Intelligence and machine learning in financial services. The survey aims to build on...more

Skadden, Arps, Slate, Meagher & Flom LLP

National Payments Vision: A Strategic Blueprint for the Future of UK Payments

On November 14, 2024, the UK government unveiled its National Payments Vision (the Vision), a strategy designed to reshape the UK’s payments ecosystem. This Vision responds to the findings of the 2023 Future of Payments...more

Goodwin

AI and Financial Stability: Questioning Tech-Agnostic Regulation in the UK?

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In our previous alert we mentioned a joint letter from the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) to the UK Government on their strategic approach to artificial intelligence (AI) and...more

A&O Shearman

UK Policy Statement and Final Guidance on the Digital Securities Sandbox

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The Bank of England and Financial Conduct Authority have published a joint policy statement providing feedback to responses received to the Digital Securities Sandbox joint consultation (CP24/5). We discussed the proposals in...more

Skadden, Arps, Slate, Meagher & Flom LLP

Bank of England Seeks Innovation in Money and Payments, With a Focus on Distributed Ledger Technology

On 30 July 2024, the Bank of England published a discussion paper on its approach to innovation in money and payments (the Discussion Paper). A recurring theme is the Bank of England’s focus on the potential use of...more

A&O Shearman

Operational resilience feedback from UK Financial Conduct Authority

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Firms have just over six months until the transition period for implementing the UK Financial Conduct Authority (FCA), Prudential Regulation Authority (PRA) and the Bank of England rules and guidance on operational resilience...more

A&O Shearman

UK Regulators Consult on Digital Securities Sandbox

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On April 3, 2024, the Bank of England and U.K. Financial Conduct Authority published a joint consultation paper on proposed rules for the incoming digital securities sandbox. The Financial Services and Markets Act 2023...more

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