- FCA confirms greater access for SMEs to the Financial Ombudsman Service
- Nomura settles case of RMBS securitised by US Subsidiaries with US Department of Justice
- Number of first-time buyers reaches its highest level since June 2017
- Thriving SMEs to bolster growth of alternative finance
- UK Finance supports FCA plan to extend access to Ombudsman Service to smaller firms
- Monese launches business account in the UK, with Europe to follow soon
- ‘Rom-cons’ costing love-struck Brits thousands, says Barclays expired
- High-cost lenders should reassess their operational procedures, says Huntswood expired
- Mastercard is the first network to make signatures optional expired
- Federal Reserve study finds US payments fraud small but growing expired
- CEOs of big banks pull out of Saudi conference expired
- Study shows regional disparity in terms of where Angel investors are based and where they invest expired
21st September 2018
Public register for the UK Money Markets Code launched
The Bank of England’s Money Markets Committee (MMC) – comprised of market participants from a wide range of banks, other financial and non-financial institutions – has launched a Public Register. The Public Register displays over 100 market participants’ Statements of Commitment to the UK Money Markets Code.
The Code sets out the standards and best practice expected from participants in the deposit, repo and securities lending markets, and was published in April 2017. The Code is underpinned by the key principle that market participants should always act in a manner to promote the integrity and effective functioning of these markets.
Over 100 market participants have already agreed for their Statements of Commitment to the Code to be displayed on the Public Register. That includes the Bank of England, which originally published its Statement of Commitment in February 2018.
Andrew Hauser, Executive Director for Markets and Chair of the Money Markets Committee, said: “The UK Money Markets Code is a key step in restoring trust in financial markets. It helps fair, effective, and transparent markets to flourish. The Public Register shows not only the breadth of adherence to the UK Money Markets Code across the market, but also the importance that market participants place on it”.
Gordon Lowson of Aberdeen Standard Investments and Chair of the UK Money Markets Code Sub-Committee, said: “The Public Register enables market participants, their counterparties, their clients, and others to see the breadth of adherence to the UK Money Markets Code.
"The Code sets out clear principles and standards for the deposit, repo and securities lending market in the United Kingdom - the number of signatories already displayed on the Public Register shows clearly that it has been endorsed and embedded across UK money markets.”