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BoE to consult on promoting clearing for gilt repo market

Deputy governor also takes aim at bilateral repo haircuts and cross-CCP netting

Sarah Breeden
Sarah Breeden, Bank of England
Bank of England

The Bank of England will publish a discussion paper later this year on possible regulatory reforms to the UK’s sovereign bond repo market, according to a senior official, following the turmoil that gripped gilt prices in 2022. Previously, sister title Risk.net has reported the BoE was mulling the benefits of requiring gilt repo users to clear their trades at central counterparties.

“The DP will be exploratory and will aim to gather views on potential options to help mitigate vulnerabilities

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