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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...
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