UK banks’ lack of visibility on counterparties to blame for destabilizing events, BOE says
By Phoebe Seers and Fiona Maxwell ( January 17, 2023, 10:31 GMT | Insight) -- A failure by banks in the UK to sufficiently probe their counterparty risks has been held responsible by senior Bank of England officials for a series of destabilizing episodes. They also called for an improvement in international collaboration on non-bank risks, citing episodes of turmoil in pension funds invested in government bonds and money market funds, most of which are based outside the UK.A failure by banks in the UK to sufficiently probe their counterparty risks has been held responsible by the Bank of England for a series of destabilizing episodes....
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