EC OKs new ECB powers as BoE warns on clearing disruption

Bank of England fotolia
By Costas Mourselas
03 Oct 2017

Debate on the location of euro clearing flared up again this week as the Bank of England warned of “substantial risk of disruption” for the activity, while the European Commission gave its blessing to more powers for the European Central Bank over central counterparties (CCPs).

A record of the BoE’s Financial Policy Committee meeting held on September 20 and published on Tuesday added that the British central bank was still engaging with clearing houses and firms in their contingency planning for Brexit. The BoE is looking at a potential no-deal scenario and the ...

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