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Sarah Breeden: The complexities surrounding pooled funds created the severe dysfunction that caused the BoE to intervene
The operational and governance complexities of recapitalizing pooled funds were a primary driver of the liability-driven investment (LDI) market crisis last year, the Work and Pensions Committee (WPC) has heard.
In the second session of the fourth formal meeting of the WPC's inquiry into defined benefit pensions with LDI - held this morning (1 February) - the committee heard evidence from Bank of England (...
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