UK clearing houses face tougher capital regime than EU peers
Ice resists BoE plan to move second skin in the game higher up capital stack, but members approve
The Bank of England (BoE) looks set to face pushback over plans to impose capital stacks on UK clearing houses that go beyond requirements in the European Union, although clearing members may welcome the proposal.
“This is really the first time since Brexit where the UK regulator has an opportunity to rewrite the rules,” says Hester Serafini, president of Ice Clear Europe. “Our concern is that unfortunately the UK has managed to draft a rule book that is even more onerous than the rules in the EU
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