UK depositary Crest facing tech issues
Crest, the UK central depositary, once again experienced technical problems on Friday, 11 September, which disrupted its operations. Owned by Euroclear since 2002, Crest provides settlement and delivery services for UK equities and government bonds and Irish equities.
Its problems forced the Bank of England to postpone a £1.5bn Gilt purchase operation as a precaution, which had been scheduled for Monday. The Bank of England is planning a £4.5bn government bond auction on Tuesday.