BoE hints at retaliation if Brussels derecognises UK clearing houses
Warning follows release of new BoE proposals for assessing foreign clearing houses
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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