Parliamentary Commission on Banking Standards and MBridge: Difference between pages

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imported>Doug Williamson
(Precis main recommendations of June 2013 report & add link to summary report.)
 
(Created page with "{lowercase}''Cash management - treasury - banking - central bank digital currencies (CBDC) - cross-border remittances - multi-country arrangements.'' Project mBridge (mCBDC or m-CBDC). A multi-CBDC arrangement would be a joint agreement between countries to facilitate more efficient and lower-cost cross-border remittances, using CBDCs. For example, the ''mBridge'' or "m-CBDC Bridge" project for collaboration initiated in 2021 between China, Thailand and the United...")
 
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(PCBS).
{lowercase}''Cash management - treasury - banking - central bank digital currencies (CBDC) - cross-border remittances - multi-country arrangements.''


Project mBridge


The Parliamentary Commission on Banking Standards was established by the UK Parliament in 2012 to:


'''A.'''


Consider and report on:
(mCBDC or m-CBDC).


1. Professional standards and culture in the UK banking sector, taking account of regulatory and competition investigations into the LIBOR rate-setting scandal.
A multi-CBDC arrangement would be a joint agreement between countries to facilitate more efficient and lower-cost cross-border remittances, using CBDCs.


2. Lessons to be learned about:


2.1. Corporate governance.
For example, the ''mBridge'' or "m-CBDC Bridge" project for collaboration initiated in 2021 between China, Thailand and the United Arab Emirates.


2.2. Transparency.


2.3. Conflicts of interest.
== See also ==
* [[Central bank]]
* [[Central bank digital currency]]
* [[Crypto-assets]]
* [[Cryptocurrency]]
* [[Currency]]
* [[Digital currency]]
* [[Distributed ledger]]
* [[e-krona]]
* [[e-money]]
* [[Fiat currency]]
* [[Libra]]
* [[Money]]
* [[Multi-CBDC arrangement]]
* [[Sand Dollar]]


2.4. Their implications for regulation and for UK Government policy.
[[Category:Accounting,_tax_and_regulation]]
 
[[Category:Financial_products_and_markets]]
 
[[Category:Financial_risk_management]]
'''B.'''
[[Category:Risk_frameworks]]
 
[[Category:The_business_context]]
Make recommendations for legislative and other action.
 
The Commission's 2013 report proposes:
 
(1) Making the individual responsibility of senior bankers a reality.
 
(2) Reinforcing each bank's own responsibility for its own soundness and the maintenance of its standards.
 
(3) Creating better functioning and more diverse banking markets.
 
(4) Reinforcing regulators's responsibility to exercise judgement in deploying their powers.
 
(5) Specifying the responsibilities of the UK Government.
 
 
The Commission's report setting out its conclusions and recommendations can be downloaded below:
 
[http://www.publications.parliament.uk/pa/jt201314/jtselect/jtpcbs/27/27.pdf: PCBS final report June 2013]
 
 
==External link==
*[http://www.parliament.uk/bankingstandards UK Parliament: PCBS]
 
[[Category:Regulation_and_Law]]
[[Category:Control_and_Reporting]]
[[Category:Policy_and_Objectives]]
[[Category:The_Treasury_Professional]]

Revision as of 20:47, 24 July 2024

{lowercase}Cash management - treasury - banking - central bank digital currencies (CBDC) - cross-border remittances - multi-country arrangements.

Project mBridge


(mCBDC or m-CBDC).

A multi-CBDC arrangement would be a joint agreement between countries to facilitate more efficient and lower-cost cross-border remittances, using CBDCs.


For example, the mBridge or "m-CBDC Bridge" project for collaboration initiated in 2021 between China, Thailand and the United Arab Emirates.


See also

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