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BOE to lend directly to pension funds, insurers in liquidity stress to counter stability risks

By Phoebe Seers ( September 28, 2023, 13:33 GMT | Insight) -- The Bank of England will start work on designing a tool that would enable it to lend directly to pension funds and insurance companies in times of "exceptional" liquidity stress, its executive director for markets said today. In the wake of the March 2020 "dash for cash" and the 2022 liability-driven investment crisis, it became clear that the financial stability implications emanating from the non-bank sector were too large to ignore, Andrew Hauser said.The Bank of England has said it will start work on designing a tool that would enable it to lend directly to pension funds and insurance companies in times of "exceptional" liquidity stress....

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