BoE to close cash distribution centre in 2023
Cash operations will continue at Debden site while BoE reviews geographical footprint
The Bank of England will close its cash distribution centre in Leeds, but says it plans to increase its footprint in the north of England.
In a statement today (April 22), the BoE said it will close the centre in February 2023. The BoE said it took the decision as it expected demand for banknotes to continue falling, while polymer has increased the lifespan of physical cash.
It first opened an office in Leeds, the largest city in the county of West Yorkshire, in 1827.
In a separate statement
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
More on Demand
Atlanta Fed clarifies contingencies ahead of hurricane season
Outages could affect bank supervision, discount window, cash, cheque and ACH processing
Ethiopian central bank orders branch reopening in conflict-affected areas
Banks must complete audits and collect non-performing loans
Demand for cash in turbulent times
Antti Heinonen analyses trends in cash use as Covid fades, but new shocks take its place
Kenyan governor denies shortage of small-denomination notes
Interior minister had claimed that politicians were draining supply to pay election bribes
Zimbabwe freezes all bank lending
President announces controls on money creation to stem decline of currency
Union objects to Colombian central bank’s branch closures
Bank of the Republic is converting some regional offices to cultural centres, closing treasuries
Australia’s central bank to review banknote distribution model
Decline in transactional cash usage has led to excess capacity
Canadians ditched cash during pandemic, research shows
Central bank data shows cash withdrawals fell in comparison to debit card transactions
Most read
- Trends in reserve management 2024: survey results
- People: RBI appoints senior officials
- China to start selling ultra-long term sovereign bonds