US banks could lose competitive edge in Europe, says EIB

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The European Investment Bank (EIB) has warned it will avoid trading over-the-counter derivatives with US banks if it is forced to clear through a central counterparty (CCP).

The warning follows similar comments from the European Central Bank (ECB), which stated in a letter to the Commodity Futures Trading Commission last October that it might stop trading with US counterparties if eurozone central banks are not granted an exemption from clearing, execution and reporting requirements under the US

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