BoE hints at retaliation if Brussels derecognises UK clearing houses

Warning follows release of new BoE proposals for assessing foreign clearing houses

Bank-of-England-Threadneedle-Street
Bank of England

Action by the European Union to remove UK clearing houses from the bloc’s list of approved venues could lead to tougher cross-border supervision of EU central counterparties (CCPs), a Bank of England official has hinted.

Christina Segal-Knowles, head of financial market infrastructure at the BoE, says any policies by a foreign authority that undermine its relationship with the UK central bank could result in more active oversight of foreign CCPs in that authority’s jurisdiction.

“I think you

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