Stability needs reliable systems: BoE's Jenkinson
The resilience of wholesale payment, clearing and settlement systems to both operational and financial shocks remains a key requirement of financial and monetary stability, says Nigel Jenkinson, the executive director responsible for financial stability at the Bank of England.
Speaking on Monday, Jenkinson said systems were changing fast in response to technological change and the financial innovation and globalisation it allows: "Cross border and global networks are squeezing our national
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