BoE outlines plan to adapt to drop in cash volumes

Legislation will give regulators stronger powers to intervene in wholesale cash market

Money new five 5 pound note

The Bank of England has published plans to maintain wholesale cash distribution infrastructure in the UK, as a 50% drop in banknote processing volumes threatens cash firms’ business models.

A consultation document published on December 14 details how the central bank expects to wield new powers, which are in the process of being established in legislation. When passed, the law is expected to give the BoE powers of prudential supervision over “recognised entities” – those deemed essential to

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