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Top related persons:
Walter Bagehot’s - 1 Andrew Hauser - 1 BoE - 1 WALTER - 1 Gurney - 1 Peter Thal Larsen - 1 Streisand Neto - 1 Thomas Shum - 1
Top related locs:
British City City of London Basel Overend Lombard
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Bank of England - 1 Reuters Graphics Reuters - 1 U.S - 1 Treasury - 1 Federal Reserve - 1 Pensions - 1 . Treasury - 1 Citadel - 1

Search resuls for: "Overend"


2 mentions found


☆ Bank of England drags Bagehot into the shadows
  + stars: | 2023-12-01 | by ( Liam Proud | ) www.reuters.com   time to read: +8 min
That is no longer tenable, in part because of reforms to bank regulation that shifted activity from traditional lenders to financial market players. These days, the institutions in need of urgent liquidity are just as likely to be pension funds, insurers or hedge funds. The British central bank’s initial ideas make sense, but only solve part of the problem. The central bank can short-circuit the panic by opening the credit taps. Central banks are only just starting to grapple with what it means to be a lender of last resort in that context.
Persons: Walter Bagehot’s, Andrew Hauser, BoE, WALTER, Gurney, Peter Thal Larsen, Streisand Neto, Thomas Shum Organizations: Reuters, Bank of England, Reuters Graphics Reuters, U.S, Treasury, Federal Reserve, Pensions, . Treasury, Citadel, Millennium Management, City of, U.S . Federal, Gurney & Company, Victorian, Thomson Locations: British, City, City of London, Basel, Overend, Lombard
☆ UK bond turmoil leaves smaller pension schemes with longer-term costs
  + stars: | 2022-11-07 | by ( Carolyn Cohn | ) www.reuters.com   time to read: +6 min
As pension funds scrambled for cash to meet margin calls, the Bank of England intervened to stabilise the market and avoid the collapse of some LDI-exposed funds. But pension schemes that could not meet margin calls in time - many of them smaller schemes - had their positions liquidated by LDI fund managers. Larger schemes in segregated funds were more likely to have retained their hedges, industry sources said. Large schemes in segregated funds pay lower fees for more volume - a benefit small schemes cannot enjoy. LDI fund managers BlackRock (BLK.N) and Insight Investment did not respond to requests for comment.
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