Sector Regulation Sector Regulation

UK banks’ lack of visibility on counterparties to blame for destabilizing events, BOE says

A failure by banks in the UK to sufficiently probe their counterparty risks has been held responsible by the Bank of England for a series of destabilizing episodes.

The central bank's top officials also called for an improvement in international collaboration on non-bank risks, citing episodes of turmoil in pension funds invested

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Phoebe Seers

Correspondent


Phoebe has covered Financial Crime and compliance issues for MLex since 2015, initially in the Hong Kong bureau and currently in London. While in Hong Kong she won two SOPA awards for her reporting on corruption in the energy sector in Indonesia. Prior to journalism she worked as a solicitor with a focus on white-collar crime litigation in London and Hong Kong. She has a BA in English and Philosophy from Newcastle University.

Fiona Maxwell

Senior Correspondent


Fiona Maxwell is a financial services senior correspondent at MLex in London. She began her career as a reporter for Risk.net, writing about EU post-crisis regulation, and later worked for POLITICO in Brussels, covering the intersect between financial policy and politics. Prior to joining MLex, Fiona worked at the Bank of England as a policy adviser in the prudential policy directorate.

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