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New Bank of England liquidity backstop to first focus on gilts, insurers

By Huw Jones LONDON (Reuters) -The Bank of England said on Tuesday that its planned liquidity backstop for non-banks during market stress will initially target the UK gilt market, insurers and pension funds, reflecting the recent crises in markets. A “dash for cash” when economies went into lockdown in March 2020 to tackle the COVID-19…
City Of United Kingdom Alexandra Hudson Huw Jones Alexander Smith Prime Minister Liz Trus

Cash Summit: Securing our Freedom to Pay – Which? Conversation

Post-meeting update At today’s Cash Summit we were delighted to hear Economic Secretary to the Treasury John Glen confirm that a consultation on cash legislation will be launched in the Summer. This is an extremely positive development towards getting these critical long term protections introduced. The government must deliver at pace on it’s promises, or risk leaving the cash system vulnerable to further damage.  We also heard about UK Finance’s commitment to protecting access to cash,...
United Kingdom John Glen Natalie Ceeney Matt Hammerstein Anabel Hoult John Lewis

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