Articles about bank of england

Spend your paper £5 notes NOW: No longer legal tender after today

You’ve got until the end of today to spend your old paper £5 notes before they cease to be legal tender. The individually short-lived banknotes, notorious for falling apart – particularly if left in the back pocket of your jeans after you pop them in the wash – will be replaced by the new plastic versions that have been rolled …

New plastic banknote plans now upsetting environmental campaigners

Poll First it was vegetarians and vegans complaining about plastic banknotes. Now the Bank of England has managed to upset environmentalists at the WWF – wildlife, not wrestlers – over plans for new plastic £20 notes made using palm oil. In a public consultation on its website, the bank says that after the furore over less than one …
Gareth Corfield, 30 Mar 2017
Mounties

'Please, choose to be a good citizen and DON’T ask Siri about 9/11'

QuoTW This week saw Microsoft sharpen the knives while GM showed off an incredibly ugly car and Samsung borked a few notebooks. Here are the best quips we picked up along the way. Outsourcing house of horrors Capita recently made 700 UK workers redundant. Turns out, they might be the lucky ones, if our story is any indication. The …
Team Register, 28 Jun 2015
Bank vault

Bank of England could mint own brand of Bitcoin

The Bank of England (BoE) has issued a piece of research suggesting, among other things, that it may not be a bad idea for it and other central banks to issue digital currencies. The “One Bank Research Agenda Discussion Paper” is the BoE's attempt to kick-start new banking thinking. The paper therefore considers five themes, …
Simon Sharwood, 26 Feb 2015
Money

Why so tax-shy, big tech firms? – Bank of England governor

The governor of the Bank of England, Mark Carney, has singled out technology companies as being among the worst offenders for tax avoidance. Speaking at a panel session at the World Economic Forum Annual Meeting in Davos, Carney said: "It should be recognised that some of the biggest firms to take the most advantage of …
Kat Hall, 23 Jan 2015
The Playmobil bank set, complete with armed robber

Banks, UK.gov must work together to beat cyber-nasties

Government must work closely with UK banks to improve financial institutions' infrastructure and resilience to cyber attacks, the Bank of England has warned. Banks currently view cyber attacks as a "technical" problem, rather than an issue which merits "board-level attention," it said on Tuesday in its Financial Stability …
Kat Hall, 16 Dec 2014

Routine WHAT NOW? Bank of England’s CHAPS payment system goes TITSUP

The CHAPS system used to handle most bank-to-bank transfers in the UK has collapsed, with all mortgage payments currently on pause. We were told that the problem was due to an update over the weekend, when the details of new CHAPS users were being added and old ones removed. This is meant to be a routine operation, but a …
Jasper Hamill, 20 Oct 2014

THE DEATH OF ECONOMICS: Aircraft design vs flat-lining financial models

Crawling from the Wreckage John Watkinson continues his series of essays for El Reg in which he examines failures in society from banking and education to transport and IT. Here, with a critical eye on our economic plight, he looks at the methods employed by those doing the sums and their consequences. Here we are, several years into the aftermath of …
John Watkinson, 21 Sep 2014
grab_that_cash

Today's get-rich-quick scheme: Build your own bank

Worstall on Wednesday Here's a great get-rich-quick idea: Go build a bank. No, really, it's an industry that's ripe for the plucking at present. One way to think about banking is to divide it into four different types: transaction, savings, commercial and investment. Investment banking is all that City-style markets 'n' stuff; commercial is trying …
Tim Worstall, 18 Jun 2014
Canary Wharf at night

Bank of England plans to shove cyber-microscope up nation's bankers

The Bank of England today announced it plans to penetrate Blighty’s banks to test the security of their critical computer systems. Speaking to the British Bankers’ Association, the BoE's exec director of resolution, Andrew Gracie launched CBEST [PDF], a new defence-testing programme that mimics crims who attack crucial …
Night scene of bank station in central london

Bank of England seeks 'HACKERS' to defend vaults against e-thieves

The Bank of England is planning to hire ethical hackers to conduct penetration tests on 20 "major" banks and other financial institutions, it has been reported. The move appears to be a response to lessons learned during the Waking Shark II security response exercise last November. The exercise put merchant banks and other …
John Leyden, 24 Apr 2014
The Playmobil bank set, complete with armed robber

Australia's central Bank hoses down Chinese hack report

Australia's Reserve Bank has confirmed it has been attacked, after a report in the Australian Financial Review claimed its “... computer networks have been repeatedly and successfully hacked in a series of cyber-attacks to infiltrate sensitive internal information, including by Chinese-developed malicious software”. The …
Simon Sharwood, 11 Mar 2013
The Register breaking news

Coalition fails business on banks, says survey

British businesses have seen no changes in bank attitudes to lending to despite the Coalition's claims that it had brought the banks into line. In February, "Project Merlin" promised to increase lending to smaller firms by £10bn to £76bn as part of a wider deal with the banks, but a survey by Hotfrog found three-quarters of …
John Oates, 5 Apr 2011
The Register breaking news

Osborne promises 'Budget for growth'

Chancellor George Osborne is promising this afternoon's Budget will be a strategy for growth when set against big cuts in public spending, which seem likely to push the UK in the opposite direction. An increase in personal tax allowance, the amount you can earn without paying tax, is widely expected. The Beeb reckons this will …
John Oates, 23 Mar 2011
The Register breaking news

Bank of England prescribes 'boredom'

Sterling hit a five-year low against the dollar this morning after Mervyn King, the Bank of England’s governor, admitted that Britain was headed for a recession. The pound is currently resting at just over $1.60, well off its $2.11 12 month high. The slide in sterling will likely make IT products more expensive in the UK, as …
Kelly Fiveash, 22 Oct 2008
The Register breaking news

Brown promises £250bn bailout will save SMEs

Downing St has put SMEs at the centre of its bank bailout plan, but is relying on European funds and the banks' own word to deliver much needed relief to small business. Chancellor Alistair Darling's £500bn bailout for the banks has been swiftly followed by action from the Bank of England, which has announced an immediate half …
John Oates, 8 Oct 2008
The Register breaking news

Darling launches £50bn relube of bunged-up UK banks

The UK government has announced a dramatic £50bn part-nationalisation plan for the country’s struggling banking system. Eight of Blighty’s biggest banks and building societies will be handed the extra capital. Some had earlier urged UK.gov to put together a rescue package after taking a hammering in the City. The government …
Kelly Fiveash, 8 Oct 2008
The Register breaking news

Ballmer on banking crisis: No one is safe

Microsoft boss Steve Ballmer warned today that no company is safe from the financial crisis. We all knew that of course, but when an ego the size of Ballmer's decides to gulp you know we're really in trouble. Reuters reports that Ballmer told a news conference in Norway: "I think one has to anticipate that no company is …
John Oates, 30 Sep 2008

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