FSA guidance on liquidity swaps imminent following meeting with banks and insurers

Regulator expected to avoid hard rules, but consultation may have been detrimental to market, say bankers

FSA Canary Wharf

Guidance on the governance of liquidity swaps between banks and insurers is expected imminently from the UK’s Financial Services Authority (FSA).

The regulator was scheduled to meet insurance and banking industry representatives at the end of last month, after Life & Pension Risk went to press, to discuss the conclusions of its consultation on liquidity swap transactions.

Banking industry representatives say the FSA is likely to publish guidance on good governance rather than use hard rules to

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