Bank of England calls for tougher pension scheme rules after crisis

Bank wants to avoid repeat of situation that followed Kwasi Kwarteng’s calamitous mini-budget

The Bank of England has called for tougher rules governing pension schemes and major lenders outside the banking mainstream as it seeks to restore confidence in the wider financial system.

British banks remain resilient to further financial shocks, the Bank said but there was greater urgency to make non-bank finance companies that lend trillions of dollars globally more resilient.