MEP fires warning shot at City over euro clearing

A German MEP reignited the explosive topic of London-based euro clearing on Tuesday, proclaiming that “EU citizens decide on their own money.” A move to force euro clearing to take place inside the eurozone could raise the cost of derivatives collateral and damage risk management, lawyers warned, as well as denting the City's position as a financial centre. Costas Mourselas and Jean Comte reports.

  • By Costas Mourselas, Jean Comte
  • 06 Apr 2017

The statement came from a close ally of German chancellor Angela Merkel and European Commission president Jean-Claude Juncker, Manfred Weber. He sparked widespread speculation among market participants about London’s future as a major financial centre.

There are estimates that losing euro clearing could result in 83,000 job losses ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 389,623.08 1462 9.00%
2 JPMorgan 356,884.99 1616 8.25%
3 Bank of America Merrill Lynch 343,116.42 1208 7.93%
4 Goldman Sachs 256,791.06 860 5.93%
5 Barclays 252,219.07 986 5.83%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 36,666.53 176 6.30%
2 Deutsche Bank 36,534.92 129 6.28%
3 Bank of America Merrill Lynch 30,861.71 98 5.31%
4 BNP Paribas 30,621.82 184 5.26%
5 Barclays 30,394.96 86 5.23%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 21,398.51 94 8.81%
2 Morgan Stanley 17,334.42 90 7.14%
3 Citi 16,974.50 104 6.99%
4 UBS 16,643.68 66 6.85%
5 Goldman Sachs 16,184.72 87 6.66%