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Innit lovely?

It came as the Bank’s Financial Policy Committee released a report attempting to distance itself from the Liability-Driven Investment (LDI) funds at the heart of the chaos.

The committee said: “The Bank does not directly regulate pension schemes, LDI managers, or LDI funds. Pension schemes and LDI managers are regulated by TPR and the FCA.”

More regulators, more regulation, means no overall regulatory view.

1 thought on “Innit lovely?”

  1. There are huge gaping holes in financial regulation. But do they all matter?

    For instance, PayPal is in the “maturity transformation” (i.e. banking) game. They don’t keep customer cash at hand, they invest in bonds to make money. So they are at risk of an old fashioned bank run.
    But if PayPal went bust it wouldn’t shake the foundations of capitalism, though it might annoy some mugs foolish enough to use it as a bank. When Wirecard went tits up hardly anyone noticed.

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