Central Banking

BoE's Tucker: end bickering over CDS clearing

Paul Tucker, the soon-to-be deputy governor responsible for financial stability at the Bank of England, has called on officials to stop feuding over plans to create a central counterparty for credit default swaps (CDS).

Consensus exists among officials that a central counterparty is needed, but there is disagreement about where it should be located and how broad its geographical scope should be.

"There is a debate over whether it matters [that the counterparty] is in the European Union (EU),