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Bank of England takes action against Euroclear for September outage

Outage caused 'notable market disruption' and delayed regular purchase of British government bonds

The Bank of England said it has started supervisory action against Euroclear UK and Ireland following a settlement system outage on 11 September last year.

The central bank's 25 June statement said the outage of its CREST financial markets settlement system caused "notable" market disruption and also delayed an asset purchase facility gilt purchase operation, when the Bank buys UK government bonds under quantitative easing.

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