Bank of England wants more transparency for ‘non banks’ after gilts turmoil

More transparency is first step after gilts turmoil, says Bank of England By Reuters

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Economy 17 minutes ago (Nov 07, 2022 09:17)

LONDON (Reuters) – Improving transparency in ‘non-banks’ is a first step to applying lessons from last month’s turmoil in Britain’s government bond market, but more will need to be done, Bank of England executive director Sarah Breeden said on Monday.

“Transparency is an important first step. That enables the necessary next step of ensuring non-banks’ positions and interlinkages with the rest of the financial system can be comprehensively stress-tested and understood in a system-wide manner,” Breeden told an event held by derivatives industry body ISDA and hedge fund sector body AIMA.

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