Firms must improve liquidity safeguards – BoE’s Cunliffe
March 2020 “dash for cash” shows need for better margining practices, deputy governor says
Firms must take more responsibility for their own liquidity management, says the Bank of England’s Jon Cunliffe, rather than relying on central banks during crises.
“The March 2020 ‘dash for cash’ has given us a valuable lesson,” the BoE deputy governor said on February 9. “We should not waste it.”
Margining is one area that needs improvement, out of many that the Financial Stability Board is examining, he said. Cunliffe co-chairs an FSB group investigating the use of margin as a factor in the
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