LONDON, Sept 28 - The Bank of England on Thursday set out a reform of capital rules for insurers to"unlock tens of billions of pounds" for investments in the economy.
The so-called matching adjustment seeks to ensure that assets held by insurers generate enough cash to cover future payouts on policies and pensions. "We propose to adjust regulations to reflect the decisions made by the government about the level of financial resilience that should be required of insurance companies," Bank of England Deputy Governor Sam Woods said in a statement.
The government overrode the BoE to insist on a less onerous discount to free up billions of pounds to invest in infrastructure and help transition to a net-zero economy.
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:
United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Citibank Taps Bond Market for First Bank-Level Deal Since 2019(Bloomberg) -- Citibank NA is tapping the investment-grade bond market Tuesday with its first bank-level debt offering in four years as deposits recede from their pandemic-era highs.
Source: BNNBloomberg - 🏆 83. / 50 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 »