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UK pension funds could have collapsed without BOE intervention, deputy governor says

( October 6, 2022, 11:33 GMT | Official Statement) -- MLex Summary: Had the Bank of England not intervened in the market turmoil following the UK government’s “mini-budget,” financial stability would have been at risk, deputy governor Jon Cunliffe said. In a letter to the UK Parliament’s Treasury Committee, Cunliffe said defined benefit pension funds’ investments in pooled liability-driven investment funds would have otherwise been zero, resulting in amplified stress on the financial system. Letter attached....

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