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Britain and EU finalise temporary derivatives clearing accord

Mon, 28th Sep 2020 07:36

LONDON, Sept 28 (Reuters) - The Bank of England and the
European Union's securities watchdog said on Monday they have
agreed on the information-sharing arrangements needed for the
bloc's banks to continue using clearing houses in London from
January.

Britain's unfettered access to the bloc ends on Dec. 31, and
Brussels had already decided it would grant temporary access for
UK clearing houses until June 2022. An updated cross-border
regulatory accord between the BoE and the European Securities
and Markets Authority (ESMA) was also needed to implement the
decision.

(Reporting by Huw Jones; Editing by Catherine Evans)

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