News & Analysis as of

Payment Systems Bank of England

Hogan Lovells

Bank of England: an update on the digitalisation of finance

Hogan Lovells on

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

UK regulators publish updated MoU on payment systems

A&O Shearman on

The UK Financial Conduct Authority (FCA), Bank of England, Payment Systems Regulator (PSR) and Prudential Regulation Authority have issued a joint statement announcing their revised memorandum of understanding (MoU) on the...more

A&O Shearman

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

A&O Shearman on

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

PSR annual plan and budget

A&O Shearman on

The UK Payment Systems Regulator (PSR) has published its annual plan and budget for 2025/26. The foreword by Aidene Walsh, Chair of the PSR, references the government's announcement to incorporate the PSR into the FCA and...more

A&O Shearman

BoE reports on digital pound developments and implementation

A&O Shearman on

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

BoE response to discussion paper on reviewing access to RTGS accounts for settlement

A&O Shearman on

On 8 April, the Bank of England (BoE) has published its response to the discussion paper on reviewing access to Real-Time Gross Settlement (RTGS) accounts for settlement. In the discussion paper, initially published on 8...more

A&O Shearman

Bank of England discusses opportunities in innovating wholesale payments

A&O Shearman on

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

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 Bank of England’s approach to financial market infrastructure supervision

Hogan Lovells on

In November 2024, the Bank of England published an Approach Document setting out its approach to the supervision of financial market infrastructures (“FMIs”) – specifically of central counterparties (“CCPs”), central...more

A&O Shearman

Bank of England policy statement and statement of policy on commercially reasonable payments in a statutory tear up in CCP...

A&O Shearman on

The Bank of England has published a statement of policy setting out its approach to determining commercially reasonable payments to clearing members whose contracts are subject to a statutory tear up in CCP resolution,...more

A&O Shearman

The Banking Act 2009 (Wholesale Cash Oversight Fees) Regulations 2024

A&O Shearman on

The Banking Act 2009 (Wholesale Cash Oversight Fees) Regulations 2024 have been published, together with an explanatory memorandum. The Financial Services and Markets Act 2023 enabled the Bank of England to oversee certain...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

Latham & Watkins LLP

UK National Payments Vision: Key Takeaways

Latham & Watkins LLP on

The NPV aims to promote growth and international competitiveness by advancing open banking, re-evaluating the approach to regulating the sector, and continuing the fight against fraud....more

A&O Shearman

Mansion House: National Payments Vision

A&O Shearman on

HM Treasury has published the National Payments Vision, outlining the government's plans for bolstering the U.K. payments sector. The Vision, which is an integral part of the latest Mansion House reforms, responds to the...more

Proskauer - Regulatory & Compliance

Mansion House Speech 2024 – Growth and Competitiveness

Background On 14 November 2024, the United Kingdom’s Chancellor of the Exchequer delivered a speech setting out the UK Government’s vision to grow and enhance the competitiveness of the financial services sector (the...more

A&O Shearman

UK Treasury Committee Call for Evidence on Acceptance of Cash

A&O Shearman on

The Treasury Committee has launched a call for evidence as it examines whether rules are needed to govern the acceptance of physical cash in the U.K. The Committee explains that the Bank of England has noted that the decline...more

A&O Shearman

UK Payment Systems Regulator Publishes Policy Statement Confirming the Maximum Level of APP Scam Reimbursement

A&O Shearman on

The Payment Systems Regulator has published a policy statement confirming the maximum level of Authorized Push Payment scam reimbursement. The statement follows the PSRs recent announcement confirming its decision to reduce...more

Alston & Bird

The UK Introduces a New Reimbursement and Compliance Monitoring Regime for Authorised Push Payment Scams

Alston & Bird on

Our UK Financial Services Group examine the UK’s new mandatory reimbursement rules that will require payment service providers (PSPs) to reimburse victims of scam transactions....more

A&O Shearman

UK Payment Systems Regulator Confirms Maximum Reimbursement Limit for Authorized Push Payment Scams Reimbursement

A&O Shearman on

On 25 September, the U.K. Payment Systems Regulator confirmed that the maximum reimbursement limit for victims of Faster Payments Authorized Push Payment scams will be £85,000. The PSR began consulting on reducing the...more

Hogan Lovells

The Payments Newsletter including Digital Assets & Blockchain, February 2024

Hogan Lovells on

Key developments of interest over the last month include: the European Parliament’s ECON Committee adopting draft reports on the European Commission’s PSR and PSD3 legislative proposals; ESMA consulting on 'reverse...more

A&O Shearman

Key Regulatory Topics: Weekly Update 23-29 Feb 2024

A&O Shearman on

Amongst the broad range of updates this week, at international level, the FSB published its thematic peer review on MMF Reforms and the BCBS published the outcomes of its meeting held on 28 and 29 February, including that it...more

A&O Shearman

Bank of England Proposes Regulatory Regime for Systemic Payment Systems Using Stablecoins

A&O Shearman on

The Bank of England has published a discussion paper on its proposed approach to developing a regulatory regime for systemic payment systems using stablecoins and related service providers. The BoE’s paper follows the...more

Latham & Watkins LLP

E-Money, Payment Services, and Insolvency

Latham & Watkins LLP on

Consumers and service providers should take note of some of the enhanced risks upon an e-money institution’s insolvency. Technology is rapidly changing the way customers and businesses interact with financial systems....more

Hogan Lovells

Global Payments Newsletter, October 2022

Hogan Lovells on

Key developments of interest over the last month include: the UK Payment Systems Regulator’s proposals on mandatory reimbursement for APP fraud; the Central Bank of Ireland’s announcement of a review of the Consumer...more

A&O Shearman

UK Regulators Propose Requirements for Critical Third Parties' Services to UK Regulated Firms

A&O Shearman on

The Bank of England, Prudential Regulation Authority and Financial Conduct Authority (together, the supervisory authorities) have published a discussion paper proposing measures to supervise and enhance the resilience of...more

42 Results
 / 
View per page
Page: of 2

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide