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). Regulations that direct the clearing of trades in financial instruments through CCPs have lowered down the extent of connectivity between banks, and this resulted in CCPs gaining importance in the financial system. This reflects recent efforts of the Bank of England to extend access to SMF to broker dealers and central counterparties (CCP). The 2015 annual report of SMF, as of January 2015 showed that 50% of the global over-the-counter interest rate derivatives market is currently centrally cleared. This marks a 31% increase since April 2012. In May 2015, it was reported by "The Guardian" newspaper that the UK government had approved an application for the Bank of England's £500m SME Funding Facility (MFF) with Goldman Sachs. 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 2015 annual report of SMF, as of January 2015 showed that 50% of the global over-the-counter interest rate derivatives market is currently centrally cleared. This marks a 31% increase since April 2012. In May 2015, it was reported by "The Guardian" newspaper that the UK government had approved an application for the Bank of England's £500m SME Funding Facility (MFF) with Goldman Sachs. given their systemic importance to the UK economy.