Carney welcomes EC oversight of CCPs
Bank of England governor Mark Carney welcomed parts of the European Commission’s draft proposals on euro clearing this week while warning against relocating the activity from its base in London.
Both Carney and Philip Hammond, UK chancellor of the exchequer, emphasised the importance of cooperation between international regulators in their annual Mansion House speeches on Tuesday.“Platforms are being created for deference to each other’s approaches when they achieve similar outcomes,” said Carney. “With robust standards consistently applied, ...
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