BoE's PRA is expected to grant Revolut a full UK banking license in the near term, FT reports citing sources
Newsquawk Staff ·
BoE's PRA is expected to grant Revolut a full UK banking license in the near term, FT reports citing sources.
What it means
The news that the Bank of England's Prudential Regulation Authority is set to grant Revolut a full UK banking license is significant as it marks a pivotal moment for both the fintech sector and traditional banking dynamics in the UK. This development could enhance Revolut's competitive position and may lead to increased scrutiny and potential regulatory shifts among peer institutions, influencing the broader financial landscape and market sentiment around fintech investments.
Sources
- [MARKET ANALYSIS] Crude grinds higher, Dutch TTF remains just under EUR 100/MWh, metals subdued
- [MARKET ANALYSIS] Contained, but a bearish skew, across fixed income into the UK Budget and FOMC
- [MARKET ANALYSIS] Antipodeans diverge as AUD saw strong CPI and NZD slumped on a surprise RBNZ hold, DXY awaits the Fed
- BoE is to kick off short and precautionary tightening cycle in November, according to a forecast from FT's Monetary Policy Radar team
- [MARKET ANALYSIS] DXY takes a breather after recent gains and heading into the FOMC, while NZD slumps on RBNZ's surprise pause
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