BoE’s Benjamin on non-bank liquidity and market resilience
Why the UK central bank’s financial stability head is considering further reforms to the gilt market
For years, senior staff of the Bank of England have been warning about the systemic risks posed by excessively leveraged non-bank financial firms. The tariff-driven market volatility in April showed those risks are very real.
While the UK market escaped mostly unscathed from the recent stress, the BoE is taking nothing for granted.
Nathanaël Benjamin, executive director for financial stability
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