The Money Markets Committee (MMC) of BoE, which comprises market participants from a wide range of banks, other financial and non-financial institutions, has launched a Public Register. The Register lists institutions that have agreed to publicly display their signed Statement of Commitment to the UK Money Markets Code.
The UK Money Markets Code, which was published in April 2017, sets out the standards and best practices expected from participants in the deposit, repo, and securities lending markets. The Code is underpinned by the key principle that market participants should always act in a manner to promote the integrity and effective functioning of these markets. Over 100 market participants have already agreed for their Statements of Commitment to the Code to be displayed on the Public Register. That includes the BoE, which originally published its Statement of Commitment in February 2018. The Public Register will be maintained by the UK Money Markets Code Sub-Committee, which is also responsible for ensuring the continued relevance of the Code as markets evolve.
Keywords: Europe, UK, Banking, Securities, Money Markets, Money Markets Code, Public Register, BoE
Previous ArticleEIOPA Publishes Q&A on Regulations in September 2018
EBA published a report analyzing the impact of the unwind mechanism of the liquidity coverage ratio (LCR) for a sample of European banks over a three-year period, from the end of 2016 to the first quarter of 2020.
In response to questions from a member of the European Parliament, the ECB President Christine Lagarde issued a letter clarifying the possibility of amending the AnaCredit Regulation and making targeted longer-term refinancing operations (TLTROs) dependent on the climate-related impact of bank loans.
IASB started the post-implementation review of the classification and measurement requirements in IFRS 9 on financial instruments and added the review as a project to its work plan.
FSB published a report that examines progress in implementing policy measures to enhance the resolvability of systemically important financial institutions.
EBA published a report on the benchmarking of national loan enforcement frameworks across 27 EU member states, in response to the call for advice from EC.
FSB published a letter from its Chair Randal K. Quarles, along with two reports exploring various aspects of the market turmoil resulting from the COVID-19 event.
RBNZ launched a consultation on the details for implementing the final Capital Review decisions announced in December 2019.
The Trustees of the IFRS Foundation, which are responsible for the governance and oversight of IASB, have announced the appointment of Dr. Andreas Barckow as the IASB Chair, effective July 2021.
HKMA issued a letter to consult the banking industry on a full set of proposed draft amendments to the Banking (Capital) Rules for implementing the Basel standard on capital requirements for banks’ equity investments in funds in Hong Kong.
ESRB published an opinion assessing the decision of Swedish Financial Supervisory Authority (FSA) to extend the application period of a stricter measure for residential mortgage lending, in accordance with Article 458 of the Capital Requirements Regulation (CRR).