BoE and Citadel clash over Sifi status for funds
BoE's Breeden warns of increasing liquidity risk for asset managers; Citadel's Griffin says it is an "intrinsic" part of capital markets
Asset managers face growing liquidity risks – the result of reforms that have made banks less able to play their traditional market-making role – and the financial system is not well equipped to manage them, according to Sarah Breeden, head of the markets, sectors and inter-linkages division in the financial stability unit of the Bank of England (BoE).
"The fallout from the financial crisis and the regulatory response to it may mean liquidity risk getting harder to manage given the reduced
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