Law360, London: The Bank of England (BoE) revealed plans to speed up the approval process for insurance special purpose vehicles (ISPVs) used by insurers to manage risk, aimed at boosting the competitiveness of London's insurance market.

The Bank of England (BoE) has published a consultation paper for supervisory fees for financial market infrastructure (FMI) for 2024/25. The consultation closes on 18 December 2024.

The Bank of England (BoE) has published an update on its new data and analytics strategy, including key priorities for the years ahead, and Green Notice 2024/01, giving notice of its intention to update the Statistical Data Point Model. The BoE plans to release a public working draft (PWD) of the updated taxonomy and data point model in Q4 2024. Exact dates will be communicated later in 2024 along with final implementation dates.

The Bank of England (BoE) has published the results of its 2024 supervisory stress test (SST) report of UK central counterparties (CCPs). The report found that all UK CCPs remain resilient to severe market stress combined with the default of their two largest clearing members. However, compared to the previous stress test, the CCPs experienced greater losses due to the specific nature of the stress scenario and the distribution of their exposures, including shocks beyond historical levels for some products. Additionally, some CCPs had reduced their pre-funded resources following a period of lower market volatility.

The Bank of England (BoE) has published a Discussion Paper on its approach to innovation in money and payments. The Discussion Paper sets out how rapid innovations in payments can impact on the BoE's monetary and financial stability objectives, bringing both opportunities and risks. The BoE invites responses to the Discussion Paper by 31 October 2024.

The Bank of England (BoE) has published its July 2025 Financial Stability Report (FSR), setting out the Financial Policy Committee’s (FPC) assessment of risks to the UK financial system and the actions being taken to address them. The FPC considers that the UK financial system remains resilient, although the global risk environment has become more challenging due to increased geopolitical tensions, trade fragmentation and sovereign debt pressures.

The Bank of England (BoE) has published minutes of the CBDC Engagement Forum for May 2025, summarising the Forum’s discussion on offline payments experimentation for the digital pound, privacy priorities following public consultation, and the roles of intermediaries under a platform model.

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.