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Bank of England to develop new lending tool for insurers

October 3, 2023

The Bank of England (BoE) is planning to develop a new lending tool for insurers, and other non-bank financial institutions like pension funds, to provide access to emergency cash during times of market stress.

This new tool is to be created to help avoid a repeat of last year’s bond market turmoil, Andrew Hauser, the BoE’s executive director for markets, stated in a recent announcement.

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