In this speech, Nick Butt, the head of the Future Balance Sheet Unit, outlines the importance of non-bank financial institutions to financial stability in the UK. He explains why this means we must take steps to improve their resilience and also develop tools that can address dysfunction in core markets when it can cause a threat to financial stability. And he outlines the practical next steps the Bank is taking to do this.
Speech
Last Autumn, Andrew Hauser, the then Executive Director to Markets, set out in a speech, entitled “a 1000-mile journey starts with a single step” that the Bank had started work to expand the tools it has to intervene when liquidity related dysfunction in core markets threatens UK financial stability. Since then, Andrew has gone on a 10,000 mile journey to take up a role as Deputy Governor at the Reserve Bank of Australia. But our focus remains on continuing the journey to develop tools to help ensure the resilience of core markets.
Click here for full details.
