Mervyn King's Mansion House dinner speech

In his Mansion House dinner speech given on 16 June Mervyn King of the Bank of England said central bank practices need to evolve with the technology for payments which is constantly evolving. Widening access to the UK large value payment system can lead to safer and more efficient payments. The introduction of real time gross settlement reduced interbank credit risk for payments made between banks in the CHAPS system, he said.

"I look up at the Chancellor's window and see those famous golden

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