Community

SWIFT announced a service outage on 18th July, in Delphic terms. Were they connected, and, if so, which SWIFT service went down? It could not have been FIN or more systems would have failed (including the UK RTGS, which hasn't migrated to ISO20022 yet, has it?). It cannot for the same reason be InterAct across the board, and it cannot be T-Copy for ISO20022 XML because TARGET2 uses that and it did not go down. So what's left? Answers please, on an MT099, to....

Far too late for the FSB's opposition to be credible, as they have participated in untold FCA/Payment Systems Regulator processes promoting digital payments as well as the Bank of England CBDC Engagement Forum, all advancing the case for a cashless society. They never uttered so much as a whisper of dissent. In doing so they in effect co-opted their membership into a direction-of-travel they now take issue with - too late, no credibility, go home.

Now we know why Jeremy Hunt's pension reforms will compel 5% of discretionary funds to be invested in 'high-growth' (in English 'high-risk') companies. Having bent the law to allow Silicon Valley Bank UK to be purchased within the HSBC ringfence and thus offer protection to this sector, the UK authorities have belatedly realised that they have not cured the problem but postponed its denouement. Where the markets do not work to confirm a pre-baked intention, find some stuffee...in this case a pension saver who has not made a specific election of where their money should be placed.