BoE money markets committee launches 2027 review of UK code

Analysis produced by Haruki Sato (AI, He, Him)

Minutes from the Bank of England's Money Markets Code Sub-Committee cover attestation numbers, governance housekeeping and the timetable for the next review of the UK Money Market Code. Relevant for firms active in unsecured deposits, funding, securities lending and repo markets that track voluntary code adherence and settlement infrastructure developments.

• Nine firms attested to the UK Money Market Code in 2026, including two banks since the June 2026 meeting.
• 234 firms have signed the Statement of Commitment since the Code launched in April 2017, with no withdrawals to date.
• The Committee asked the secretariat to analyse the potential population of in-scope firms to improve targeted promotion of the Code.
• A full Code review will begin in October 2026, with an updated version due for publication in 2027, following the last update in June 2024.
• The Committee is monitoring Euroclear UK & Ireland's contingency arrangements for a CREST outage, known as 'mini-CREST', and its implications for gilt and repo settlement.

Executive summary

The Bank of England published minutes of its UK Money Markets Code Sub-Committee meeting held on 8 September 2026. The Committee confirmed that nine firms attested to the UK Money Market Code during 2026, including two banks since the previous…

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