‘ the curse of knowledge ’ by heath, c and heath, d, harvard business review, december 2006. available at : https : / / hbr. org / 2006 / 12 / the - curse - of - knowledge xvii luhmann, n ( 2000 ), “ familiarity, confidence, trust ” and h. farmer, r. mckay, m. tsakiris. “ trust in me : trustworthy others ” “ in gambetta, diego ( ed. ) trust : making and breaking cooperative relations, electronic edition, department of sociology, university of oxford, chapter 6, pp. 94 – 107 and farmer et al ( 2013 ). xviii the bank aims to move female representation at senior levels from 30 to 35 per cent by 2020, and bame representation at senior levels from 6 to 13 per cent by 2022. xix social mobility commission ( 2016a ), “ state of the nation 2016 : social mobility in great britain ”, november ; ; cabinet office ( 2016 ), “ socio - economic diversity in the fast stream ”, february ; and social mobility commission ( 2014 ), “ elitist britain? ”, august ; institute for government research : https : / / www. instituteforgovernment. org. uk / blog / civil - service - fast - stream - six - charts. see also friedman, d and laurison, s ( 2015 ), “ introducing the ‘ class ’ ceiling ”, lse sociology department working paper ; and social mobility commission ( 2016b ), ” socio - economic diversity in life sciences and investment banking ”, july. xx a us study showed that gender and ethnic representation in the us economics profession ( academic and student populations ) remains below that in other disciplines. interestingly, diversity had improved in science and technology ( stem ) subjects and business and management studies, but not in economics. see bayer, a. and rouse, c. e. ( 2016 ), “ diversity in the economics profession : a new attack on an old problem ”, journal of economic perspectives, 30, p. 221 - 242. see also royal economic society ( 2015 ), “ the 10th royal economic society women ’ s committee survey : the gender balance of academic economics in the uk 2014 ”. xxi see also haldane, a. ( 2016 ), “ the dappled world ”, november ; and fourcade, m., ollion, e. and algan, y. ( 2014 )

, a senior group providing strategic advice on the adoption of new payments standards in the uk. this group will bring vital private sector expertise into the bank and pay. uk ’ s work to ensure consistent adoption of standards including iso 20022, the ccm, and the wider adoption of leis. the cutover for moving to iso 20022 messaging for sending and receiving chaps payments is planned to occur in 2022. this will be on a like - for - like basis with the current messaging standard, but we will then introduce enhanced data into chaps payment messages, including leis for messages in financial institutions in 2023. and, as i mentioned earlier, we will then look at further enhancements, including a broader inclusion of leis in payment messages, over later years. this may seem on the horizon now, but i ’ m sure i don ’ t need to remind a room full of payments experts that strategic change deadlines are never as far away as they seem. with the renewal of rtgs, the wider implementation of iso 20022 messaging standards for payments and the inclusion of leis in credit messages, the bank is committed to changes which will have a positive impact for users of payment services. but we, together with pay. uk, and all of you here today need to keep up the momentum and energy to deliver this critical change – a foundational change which will help future proof uk payment systems ; deliver the new products and services which your customers are asking for ; and support and contribute to the wider economic transformation being brought about by the data revolution. such as hm treasury, and gleif - the global body charged with supporting the implementation and use of leis. all speeches are available online at www. bankofengland. co. uk / publications / pages / speeches / default. aspx