-
Bailey: Taking our second chance to make MMFs more resilient
Thank you for inviting me to speak today. I want to start by thanking ISDA for the important work you do, and in recent times particularly Scott O’Malia and his colleagues for working with central banks and regulators to manage the transition away from Libor. Your support on this complex transition has been hugely important. You may be relieved to hear that I am not going to talk about Libor today. I did speak on the subject yesterday, it’s on the Bank of England’s website if you are interested (Bailey, 2021). Instead, I am going to speak about another important part of our current work and a priority for the ... (full story)
-
BOE GOV. BAILEY: THE 'RACE FOR CASH' IN 2020 REVEALS A DANGEROUS GAP IN OUR EXPOSURE TO THE POSSIBILITY OF FINANCIAL UNCERTAINTY CREATED BY POST-2008 REFORMS.
— Breaking Market News (@financialjuice) May 12, 2021
-
BOE GOV. BAILEY: WE NEED TO COME UP WITH A COMPREHENSIVE POLICY PLAN THAT ADDRESSES THE MONEY MARKET FUND SECTOR'S EXISTING VULNERABILITIES.
— U.S. Dollar Smile (@Forexmkts) May 12, 2021
-
BOE GOV. BAILEY: MONEY MARKET FUNDS AS THEY ARE PRESENTLY FORMULATED CAN BE VIEWED AS CASH-LIKE, BUT THEY CANNOT DELIVER ON THIS PROMISE ACROSS A BROAD ENOUGH VARIETY OF MARKET CONDITIONS.
— U.S. Dollar Smile (@Forexmkts) May 12, 2021