Minutes of the UK Money Markets Code Sub-Committee – September 2026

The Committee serves as a collaborative forum for market participants and authorities to discuss the UK unsecured deposits and funding market, as well as securities lending and repo markets. While the minutes do not introduce new rules, they signal ongoing supervisory focus on market conduct and the effective implementation of the UK Money Markets Code. For compliance teams at banks, broker-dealers, and investment firms active in these markets, this is an informational update that reinforces the importance of robust controls, clear escalation, and adherence to best practice.

Firms should review their money market activities against the Code, ensure staff training is current, and consider whether any discussion points require adjustments to policies or procedures. Engagement with industry committees can provide early insight into evolving expectations. There are no immediate deadlines or enforcement actions, so urgency is low.

However, ignoring such minutes may leave firms exposed to reputational and conduct risk if standards shift. Opportunities exist for firms to demonstrate leadership in market integrity, potentially enhancing counterparty confidence and funding access. Overall, this is a low-risk, low-urgency update, but compliance and treasury teams should stay informed.