Central Banking

Europe approves post-Brexit CCP and CSD framework

Brexit

The European Commission (EC) has formally adopted a “temporary equivalence decision” on the future of central counterparties (CCPs) and central securities depositories (CSDs) after the UK leaves the European Union.

“[The] announcement is a crucial and positive step. It provides necessary clarity and addresses one of the most important financial stability risks associated with the UK’s withdrawal from the EU,” the Bank of England (BoE) said in a statement on December 19.

In a parallel statement

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