Bank of England - The UK Money Markets Code

The Bank of England has launched a new voluntary UK Money Markets Code setting out the standards and best practice expected from participants in the deposit, repo and securities lending markets.

Replacing elements of the long-established NIPS Code, it outlines six high-level principles encompassing: ethics, governance, risk management, confidentiality, execution and settlement.

The Code is underpinned by the key principle that participants should always act in a manner to promote the integrity and effective functioning of these markets and will be particularly useful for Treasurers as, not only does it set out standards of best practice in financial markets, many of which are directly transferable into corporate treasury, but also sets out the behaviours that corporates should expect from their banks.

The Bank of England Press release can be found here

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