Bank unveils gilts repo code
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The Bank of England yesterday published final versions of its documents for the gilts repo market opening on 2 January. They include a legal agreement for repos and a code of best practice. Ian Plenderleith, executive director for monetary operations at the Bank, said: "It is vital that the market should be safe and orderly... Firms now need to plan carefully their strategies and ensure that they have proper systems and controls in place."
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