City Of London

BOE Calls for Tougher Global Regulation After UK Pensions Drama

Regulators can’t see leverage build up, BOE’s Breeden warns
LDI chaos threatened the whole gilts market and wider economy

Office workers in view of St Paul's Cathedral in the City of London financial district.Photographer: Jason Alden/Bloomberg

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By William Shaw and Greg Ritchie

November 7, 2022 at 5:43 AM EST

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Tighter global regulation may be needed to prevent dangerous levels of debt building up after the turmoil in the UK pensions industry wreaked havoc across financial markets, a senior Bank of England official said.

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