Goldman Sachs International , which specialises in investment finance and institutional client services, has gained approval to access funding from the Bank of England"s Sterling Monetary Framework (SMF). This reflects recent efforts of the Bank of England to extend access to SMF to broker dealers and central counterparties ( CCP ). Goldman Sachs International – the UK based subsidiary of The Goldman Sachs Group, Inc. (GS - Analyst Report) – can now resort to Bank of England during crisis. The April 2012 annual report of SMF , as of April 2012 showed that 50% of the global over-the-counter interest rate derivatives market is currently centrally cleared. This marks a 50% increase since April 2012 . SMF wants to provide insurance liquidity to broker-dealers given their systemic importance to the UK economy.
Goldman Sachs International , which specialises in investment finance and institutional client services, has gained approval to access funding from the Bank of England"s Sterling Monetary Framework (SMF). This reflects recent efforts of the Bank of England to extend access to SMF to broker dealers and central counterparties ( CCP ). The April 2012 annual report of SMF , as of April 2012 showed that 50% of the global over-the-counter interest rate derivatives market is currently centrally cleared. This marks a 50% increase since April 2012 . SMF wants to provide insurance liquidity to broker-dealers given their systemic importance to the UK economy.