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Seven days: 28 June 2019

Seven days: 28 June 2019

Liquidity under spotlight

Bank of England governor Mark Carney called for a change in the regulation of funds to better reflect the liquidity of the assets underpinning them. Mr Carney told the Treasury Select Committee that fund investors should not necessarily expect to have access to their money daily, saying that open-ended funds were built on a “lie” that they had daily liquidity. For assets that “fundamentally aren’t liquid” or become illiquid in a market downturn, that could mean investors’ expectation is that “it’s not that different from having money in a bank”.   

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