Britain and EU finalise temporary derivatives clearing accord

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LONDON (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.


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