UK markets say ‘no’ to mandatory haircuts and clearing – BoE
Central bank to consider industry feedback and come back with updated proposals in early 2027
Participants in the UK government bond (gilt) repurchase market are opposing proposed measures to strengthen resilience, including minimum haircuts and mandatory central clearing.
In a feedback statement on April 1, the Bank of England summarised market responses to its proposal to enhance gilt repo market resilience, after publishing a discussion paper seeking industry views last September.
The bank’s proposed measures included mandating central clearing for gilt repos and introducing minimum
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