Central Banking

Bank publishes payments oversight rules

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The Bank of England has published fourteen principles for operating payments systems.

The Bank's guidelines are in line with this year's Banking Act, legislation aimed at averting future crises, which called for the Bank to explain how it intended to fulfil its payments systems oversight responsibilities. However, the Bank's payments system is regarded as having handled the rigours of the crisis well.

The rules extend the ten internationally-agreed core principles for systemically-important paym

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