ECB poised for EU clearing power grab

ECB adobe stock AS 230x150
By Costas Mourselas
30 Oct 2018

The European Central Bank is pushing for greater powers over EU-based derivatives clearing houses, according to a leaked ECB presentation obtained by GlobalCapital. The move follows a successful effort by the ECB to gain powers over foreign clearing houses.

The central bank is lobbying lawmakers on changes to the statute that governs its mandate and a controversial European Commission proposal from June 2017 that revises European oversight of central counterparty clearing houses (CCPs). 

The staff presentation was due to be ...

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