"The UK’s House of Lords has been conducting an inquiry that is reviewing regulatory proposals for UK stablecoins and the Financial Services Regulation Committee published a report recommending a lighter touch on several fronts. It welcomed the Bank of England’s proposed backstop lending facility for systemic stablecoins, but made three priority suggestions. They believe the requirement that systemic stablecoins park 40% of reserves at the central bank is onerous, and suggest remunerating central bank deposits."