Image:
BoE deputy governor Jon Cunliffe said: "For the long end of the curve, this is outside of historical experience"
The unprecedented collateral calls pension funds had to meet for their liability-driven investment (LDI) portfolios in the wake of last month’s mini budget represented a “full scale liquidation event”, the Bank of England says.
Speaking at a Treasury Committee meeting questioning the Bank of England on financial stability following the mini budget, the bank's executive director of markets Andrew Hauser explained the scale...
To continue reading this article...
Join Professional Pensions
Become a Professional Pensions Lite Member today
In just a few clicks you can start your free Professional Pensions Lite membership for 12 months, providing you access to:
- Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
- Receive important and breaking news stories via our two daily news alerts
- Hear from industry experts and other forward-thinking leaders
