Bank of England wants dynamic Emir for UK clearing houses
Review won’t just photocopy EU legislation, as BoE seeks to make rules simpler and adaptable
The Bank of England will rebuild UK clearing rules to be simpler and more adaptable than earlier European Union versions in a forthcoming review, according to an executive at the UK supervisor. The new rules for central counterparties (CCP) would replace the European laws that governed UK firms until the country’s departure from the EU was completed at the start of 2021.
“Together [with the UK government] we are considering how we could simplify certain processes, such as for approving CCP margin
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