The Bank of England (BoE) has published a speech by the Prudential Regulation Authority (PRA) executive director of prudential policy, David Bailey, delivered at Risk Live Europe. In the speech, Bailey outlined how the PRA is embedding its Secondary Competitiveness and Growth Objective (SCGO) into its regulatory framework to support innovation in the UK banking and insurance sectors. He emphasised that fostering innovation—while maintaining financial stability—is essential to enhancing the sector’s resilience, efficiency, and global competitiveness. The PRA aims to strike a balance between regulatory certainty and flexibility, enabling firms to invest confidently in emerging technologies such as artificial intelligence, digital payments, and cloud infrastructure.

The Bank of England (BoE) has published its Real-Time Gross Settlement (RTGS) and CHAPS annual report 2024/25, confirming the successful launch of RT2 in April 2025 and setting out a new strategy focused on resilience and responsiveness. RT2 introduces a new core ledger and settlement engine, supporting over £800bn in daily settlements. The BoE also announced plans to extend CHAPS settlement hours so that it would open from 1:30am by 2027, aligning with global efforts to improve cross-border payments and support innovation in wholesale settlement.

The Bank of England (BoE) has published the Real-Time Gross Settlement (RTGS) system and CHAPS annual report for 2023/24. The report notes that the BoE is reviewing its future strategy and strategic themes in light of the RTGS Renewal Programme coming to a close with the delivery of TS3, its new core ledger and settlement engine.

The Bank of England (BoE) has published the scenarios for the 2024 desk-based stress test of the UK banking system. The exercise will test the resilience of the system to two hypothetical scenarios, which include severe but plausible combinations of adverse shocks to the UK and global economies.

The Bank of England (BoE) has published a design note discussing its initial thoughts on the roles and responsibilities of intermediaries in a digital pound ecosystem and the development of a scheme rulebook. This rulebook would outline requirements for intermediaries to ensure the proper management of the digital pound. The note emphasises the importance of intermediaries, such as Payments Interface Providers (PIPs) and External Service Interface Providers (ESIPs), in delivering user-facing services while the BoE maintains the core ledger. Key components of the rulebook include compliance, roles of actors, scheme management, obligations and minimum standards, and activities and provision of services.

The Bank of England (BoE) has published a design note on the blueprint framework for a potential digital pound.  The design note identifies key components the BoE and HM Treasury (HMT) will explore in developing a blueprint of the proposed model and design of a potential digital pound and will form the basis for assessing the benefits and costs. The BoE welcomes feedback on the considerations set out in the design note.

The Bank of England (BoE) has published two design notes and a progress update as part of its work on the digital pound. The design notes cover offline payments and alias services, while the update outlines recent developments in the digital pound blueprint.

The Bank of England (BoE) has published two digital pound design notes, one dealing with product strategy and the other dealing with interoperability models for UK based payments. Design notes set out the BoE’s emerging thinking on specific topics related to a digital pound. These notes explore matters the BoE is considering during the design phase for a digital pound, on which it wishes to give stakeholders visibility of our emerging thinking.

The Bank of England (BoE) has published a discussion paper examining the effectiveness and impact of potential reforms to the UK gilt repo market, developed in consultation with the Financial Conduct Authority (FCA), HM Treasury (HMT) and the UK Debt Management Office (DMO). The paper focuses on two key proposals: greater central clearing of gilt repo transactions and minimum haircuts on non-centrally cleared trades. The discussion paper highlights the role of the gilt repo market in supporting financial stability, liquidity management and monetary policy transmission. It identifies vulnerabilities such as limited dealer intermediation capacity during stress, zero or near-zero haircuts, and the build-up of leveraged positions. Responses are sought by 28 November 2025.

The Bank of England (BoE) has published two discussion papers on whether and how it should make changes to its real time gross settlement (RTGS) service in order to make the most of technical functionalities in its new core ledger settlement engine, coming later in 2024. The new system has the capability to operate longer settlement hours than the current 12x5, and will also have capacity to support broader participation. Responses to both discussion papers are sought by 30 April 2024.

The Bank of England (BoE) has published the 2024 external MRELs (minimum requirement for own funds and eligible liabilities) for all firms with a resolution entity incorporated in the UK for which a MREL above minimum capital requirements has been communicated. The BoE has also set out its approach to MREL disclosure, including supporting assumptions and firm-specific information for bail-in and partial transfer preferred resolution strategy firms.

The Bank of England (BoE) has published a policy statement (PS) providing feedback to responses to its December 2023 consultation paper (CP) on its proposed approach to statutory notice decisions for use of its requirements powers in relation to its role as the UK’s regulator for central counterparties (CCPs) and central securities depositories (CSDs). The PS includes the BoE’s final statement of policy (SoP) on its approach to making statutory notice decisions for the use of its requirements powers under section 55L(3) and (5) of the Financial Services and Markets Act 2000 (FSMA 2000) as amended by the Financial Services and Markets Act 2023 (FSMA 2023). The SoP will enter into effect from 23 May 2024.