LONDON, Sept 28 - The Bank of England is starting work on its first facility to lend to insurers and pension funds to help avoid a repeat of last year's bond market turmoil, Andrew Hauser, the BoE's executive director for markets, said on Thursday.
"We will be embarking, with immediate effect, on the design of a facility allowing us to lend to insurance company and pension funds - including newly-resilient LDI funds," Hauser said at an event hosted by MNI Connect. Globally, NBFIs - sometimes called"shadow banks" and which include investment firms including hedge funds - represent about half of the financial sector and have expanded rapidly since the 2008 financial crisis.
However, the timing was awkward for the BoE, coming just as inflation hit a 41-year high of 11.1% and forcing it to delay the start of active bond sales from its separate quantitative easing portfolio.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Pound Bond Market Gets Longest Deal in Months as BOE Hits PauseDays after the Bank of England called time on nearly two years of rate hikes, Suez SA is selling the longest-dated sterling corporate bond in six months.
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Pound Bond Market Gets Longest Deal in Months as BOE Hits Pause(Bloomberg) -- Days after the Bank of England called time on nearly two years of rate hikes, Suez SA is selling the longest-dated sterling corporate bond in six months. Most Read from BloombergChina Puts Evergrande’s Billionaire Founder Under Police ControlElon Musk Wins US Space Force Contract for StarshieldPeloton Soars After Deal With Lululemon to Share Fitness ContentCitadel Is Ready to Fight With SEC Over WhatsApp ProbeOil Touches $95 With Shrinking Inventories Fanning Fresh RallyThe French
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Market mind: Dollar glimmers in broad market gloomGerman and Spanish inflation data and European consumer confidence data due today seem unlikely to pierce the gloom that's enveloped markets in recent days. Oil's spike to one-year highs has poured fuel on selling in the bond market and further pumped up the dollar, while global stocks have dropped for nine sessions in a row. The greenback stands at a 10-month high against a basket of other majors, and 10-year Treasury yields are hovering at a 16-year peak.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Market mind: Dollar glimmers in broad market gloomA look at the day ahead in European and global markets from Tom Westbrook German and Spanish inflation data and European consumer confidence data due today ...
Source: SaltWire Network - 🏆 45. / 63 Read more »
Stock losses accelerate amid Fed fallout, shutdown worries: Stock market news todayStocks pulled back as Wall Street continued to face up to the prospect of a long period of high interest rates.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stock losses deepen amid Fed fallout, shutdown worries: Stock market news todayStocks pulled back as Wall Street continued to face up to the prospect of a long period of high interest rates.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »