On 13 July 2021, the Bank of England (BoE) and the FCA published a report on assessing the resilience of market-based finance.  The report includes the conclusions of the joint FCA and BoE review into vulnerabilities associated with liquidity mismatch in open-ended funds. In particular, the BoE and the FCA have put forward a suggested possible framework for how a liquidity classification framework for funds could be designed, as well as considerations around the calculation and use of swing pricing.

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