Gilt repo clearing mandate on Bank of England’s radar
Sources say regulator mulling benefits of US-inspired regime, but is non-committal
The Bank of England (BoE) is examining the notion of a mandate to clear UK government bonds and repurchase agreements secured by them, according to five sources, but without any firm commitment so far.
“They make no secret that they’d like clearing, and people like me push back,” says Glenn Handley, a securities financing consultant at his own company, SecFin Solutions, who previously held senior positions within HSBC’s repo business. “The bank’s attitude is: ‘well, why not mandate it?’ But the
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