Sector Regulation Sector Regulation

EU is attempting ‘clearinghouse landgrab’ with equivalence approach, BOE’s Bailey says

By Fiona Maxwell
  • 24 Feb 2021 11:03
  • 24 Feb 2021 11:03
The EU’s approach to equivalence for clearinghouses is tantamount to a landgrab of the UK’s euro-denominated clearing business, Andrew Bailey said today. 

In a stark criticism to Brussels, the Bank of England governor warned lawmakers that the EU’s attempt to move euro clearing into the bloc could end up as a location policy,

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