ECB requests powers to regulate CCPs

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ECB: requested changed status

The European Central Bank (ECB) has asked the political authorities of the European Union to change its statute to give it powers to regulate central counterparties (CCPs).

The move is likely to be in response both to long-standing concerns over the importance of CCPs to the financial infrastructure of the eurozone, and to more recent worries sparked by Brexit. The majority of euro-denominated clearing is carried out by CCPs based in the UK, which is now negotiating its exit from the EU.

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