QCCP stand-off could hurt EU banks, says CME's Taylor

Capital hit could drive EU banks out of US CCPs, leaving them unable to provide clients with clearing services

Kim Taylor, CME Clearing

European banks will suffer if EU authorities do not give the thumbs-up to US clearing house rules, according to Kim Taylor, chief executive of CME Clearing – the result of a huge jump in capital requirements that would apply to trades they clear with US central counterparties (CCPs).

A ruling that US and EU rules are equivalent would remove that danger, allowing the European Securities and Markets Authority (Esma) to grant US clearing houses so-called qualifying CCP (QCCP) status, but this needs

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