LOOSE CHANGE
LOOSE CHANGE
The Bank of England will start operations of its money market clearing system on October 1 in a long-awaited measure to eliminate physical delivery of the 80 billion pounds sterling worth of short-term paper that currently gets shuttled around the streets of London.
The book-entry system, run by the Bank of England's Central Moneymarkets Office, will handle treasury and local authority bills, bank bills, certificates of deposit and commercial paper.
Although a computerized, book-entry system had
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