UK Pension System Was Hours From Failing, EU Up Next | TPTS
When it intervened in the U.K. long-term bond market last week, the Bank of England told lawmakers that #pensionfunds were hours from collapse. The #centralbank's Financial Policy Committee intervened after a massive sell-off of U.K. government bonds (called "#gilts") on Sept. 23. The emergency measures included a two-week purchase program for long-dated bonds and the delay of the bank's planned gilt sales.
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