Tag Archives: Standardization

In the FT, Chris Giles, Caroline Binham, and Delphine Strauss report about plans of the Bank of England to let fintech companies bank at Threadneedle Street and thereby offer payments systems on a level playing field with commercial banks. The editorial board of the FT welcomes the plans; it seems to have in mind not only competition but also “synthetic” CBDC: By offering fintech companies access to the BoE’s vaults, the governor may inject much-needed competition into the sector. What...

On his blog, John Kay speculates about the future of financial intermediation: The paradox of modern capital markets is that although there is less and less need for market activity from the point of view of either the end users of finance, or the investors who are the ultimate beneficiaries of finance, the volume of market activity has increased exponentially. … The growth of secondary market trading at the expense of an understanding of the underlying exposure led to disaster in the...