Companies sponsoring well-funded pension schemes can offload their obligations to insurance companies. 5,200 boards of trustees, with advisers and managers will be replaced by 8 insurers. Illiquid assets that are difficult to value, and processing of data of so many people will slow down this process, but the UK's financial landscape will change.

Money in all money-market funds climbed by $304 bln last month because of banking concerns and the higher yields of money funds. The amount might increase by another $1.5 tln over the next year, according to Barclays Plc. Whether fresh cash mostly finds its way into government instruments, will depend on the supply of attractive alternatives.