![]() As such, the global and domestic regulatory frameworks will need to adapt. Those benefits can only be realised and innovation be sustainable if it is undertaken safely and accompanied by effective public policy frameworks that mitigate risks and maintain broader trust and integrity in the financial system. The technology underpinning this innovation could bring a number of benefits including lower transaction costs, higher payment system interoperability and more choice for users. Moreover, the new technology has the potential to reshape activity currently taking place in the traditional financial sector, through either the migration of that activity or the widespread adoption of the technology. However, if the pace of growth seen in recent years continues, interlinkages with the traditional financial sector are likely to increase. That activity is currently concentrated in cryptoassets, and is small compared to that of the overall financial sector. Many services now facilitated by this technology mirror those available in the traditional financial sector, including lending, exchange, investment management and insurance. ![]() News and publications Open News and publications sub menuĬryptoasset technology is creating new financial assets, and new means of intermediation.Option-implied probability density functions Gross Domestic Product Real-Time Database The PRA’s statutory powers and enforcement Money Markets Committee and UK Money Markets Code Greening our Corporate Bond Purchase Scheme (CBPS) Operational resilience of the financial sector Wholesale cash distribution in the futureįinancial market infrastructure supervision
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