BOE’s Carney made no comments on monetary policy

The Bank of England (BOE) Governor Mark Carney is on the wires now, via Reuters, delivering a scheduled speech at the International FinTech Conference, in London.

Mr. Carney made no comments on monetary policy so far.

Key Quotes:

"In their current form, these innovations are simply a new front-end to the banking system where FinTech providers take a slice of customer revenue and loyalty but none of the associated risks" 

"They have generally avoided undertaking traditional banking activities. So for now, absent a substantive change in business models or scale of activities, the Financial Policy Committee (FPC) is unlikely to want to bring these firms into the regulatory perimeter"