The unprecedented collateral calls pension funds had to meet for their liability-driven investment portfolios in the wake of last month's Mini Budget represented a "full scale liquidation event", the Bank of England has stated. Speaking at a Treasury Committee meeting questioning the Bank of England on financial stability following the Mini Budget, Andrew Hauser, executive director of markets at the Bank, explained the scale of the crisis that led the central bank to intervene in gilt markets, reports Investment Week. "This was a situation that went from ‘we are ringing you to let yo...
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