The Money Markets Committee of the Bank of England published this new voluntary Code, covering the UK's wholesale money markets, in April 2017. The Code was drawn up by a sub-committee of market practitioners, including a representative from the building society sector. The BSA has supported the initiative to draw up the new Code, which supersedes several existing codes. We are keen for our members to observe good practice in all the markets in which they operate.
Accordingly, the BSA has formally endorsed the new Code, and we have encouraged all relevant members - i.e. who are UK Market Participants as defined in the Code - to work towards committing to, and embedding, the new Code by the end of 2017.
These links access the Code, and the Explanatory Notes, on the Bank's website.