BoE markets head warns of collateral balancing act


A "progressive withdrawal" of central banks from collateral transformation is in the financial markets' long-term interests, according to the head of the Bank of England's (BoE) sterling markets division, Andrew Hauser.

Hauser told an audience in London today that while central banks possess the technology to conduct collateral transformation – where ineligible assets that are transformed through repurchase agreements (repos) into eligible collateral – an "excessive presence" would "harm incenti

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