In a speech, to market practitioners, Mr John Townend, Head of the Bank's Wholesale Markets Supervision Division, explains the objectives and rationale of the Bank's proposed regulation of the wholesale money markets and describes the principal features of the new regime. He then goes on to discuss and, where possible, clarify some of the outstanding issues of principle and interpretation that have been causing concern among participants in the markets, and outlines the next steps in the introduction of the new system.
Supervision of the wholesale money markets - Speech by the Mr John Townend