Digital pound will be pseudonymous with a focus on privacy: BoE CBDC chief
The underpinning technology for the UK CBDC could use a different ledger than the popular blockchain technology.This post was originally published on this site
Gold Slides on Higher US Treasury Yields, Dollar
Prices of gold, and other precious metals, fell on Wednesday due to stronger U.S. yields and national currency. The decline comes on the backdrop of expectations of new interest rate increases next month amid persistent inflation in the United States and elsewhere. Gold and Silver Slip as Investors Bet on Another Rate Hike in May […]
BIS, Bank of England concludes blockchain int’l settlements pilot
The insights of Project Meridian would be used by the Bank of England in its Real-Time Gross Settlement (RTGS) system.This post was originally published on this site
UK forms Bitcoin Policy org to boost BTC education and adoption
A Bitcoin-only policy organization in the United Kingdom seeks to steer a course for greater levels of Bitcoin adoption. This post was originally published on this site
US contemplates ‘expanding’ emergency lending facility for banks: Report
While the Federal Reserve liquidity offerings must be equally accessible to “all eligible users,” unnamed sources reportedly warned that it could be “made in a way” to ensure First Republic Bank benefits.This post was originally published on this site
Several Major Central Banks Take Coordinated Action to Boost Liquidity Amidst Banking Crisis
On Sunday evening, March 19, 2023, at 5:00 p.m. Eastern Time, the U.S. Federal Reserve, along with several central banks including the Bank of England, Bank of Canada, Bank of Japan, the European Central Bank, and the Swiss National Bank, announced a coordinated action to enhance the provision of liquidity via the standing U.S. dollar […]
SVB’s UK arm issues 15M pounds in bonuses after symbolic bailout: Report
Insider sources described the bonus pool as “modest,” adding that the stock held by senior execs had been “rendered worthless” following SVB UK’s “near-collapse.”This post was originally published on this site
UK regulators moving “at pace” to deliver plan for tech firms hurt by SVB collapse
An emergency plan to rescue startups and tech companies affected by the Silicon Valley Bank collapse is underway in the United Kingdom.This post was originally published on this site
Bank of England Shuts Down Silicon Valley Bank’s UK Branch After US Regulators Close Parent Company
After U.S. regulators shut down Silicon Valley Bank (SVB) on Friday, the Bank of England has closed the company’s U.K.-based arm. The central bank explained that it intends to place the subsidiary into bank insolvency procedures. Fallout From SVB Failure Prompts BOE to Close U.K. Branch The ripple effect of the 16th largest bank in […]
Market Strategist Michael Wilkerson Believes US Inflation Could Rise to 12% by Year-End Despite Predictions of Decrease
While several market strategists and analysts expect U.S. inflation to drop considerably in 2023 compared with last year, Michael Wilkerson, founder of Stormwall Advisors, thinks the inflation rate could climb as high as 12% by the end of this year. The country’s inflation rate has cooled down over the past seven months, but Wilkerson insists […]