Bank of England
News stories featuring Bank of England:
September 13th, 2016
The Bank of England has begun rolling out plastic £5 (US$6.59) notes across the UK. The new fiver is made from polymer, a flexible plastic material, and features Sir Winston Churchill. “The new fiver is the first of the Bank of England’s new series of polymer notes, with the £10 (US$13.17) and £20 (US$26.34) notes to be replaced with polymer designs over the coming years,” the BofE says. Paper £5 notes will cease to be legal tender in May 2017.
February 27th, 2015
The Bank of England is consulting external experts on research designed to help set future policy which includes considering the effects of issuing its own Bitcoin-like digital currency. The One Bank Research Agenda discussion document, which aims to transform the way research is done at the bank, explains that the rise of digital currencies “has potentially profound implications for a financial system whose payments mechanism depends on bank deposits that need to be created through credit,” and goes on to ask what the impact on existing payment and settlement systems would be should it introduce its own digital currency in future.
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