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
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