BoE publishes annual payments system oversight report

Bank of England building in London

The Bank of England published its annual oversight report into the payments system in the UK today (April 11). The central bank said "systems had delivered reductions in risk" in the year since the last report was published.

But the Bank of England outlined five areas in which it felt further measures were necessary, including: tiering in the wholesale payment systems; credit and liquidity risks in central counterparty payment arrangements; default arrangements for Bacs; governance weaknesses

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