December 11, 2023

The Bank of England has released plans to maintain the UK’s wholesale cash distribution infrastructure as a 50% drop in banknote handling threatens cash companies’ business models.

A consultation paper published on Dec. 14 detailed how the central bank wants to exercise the new powers, which are being enshrined in legislation.When passed, the bill is expected to give the Bank of England prudential regulatory powers over “authorized entities” – those deemed essential