UK-based Euro clearing may be forced to move to the continent
The International Monetary Fund has warned
that the UK leaving the European Union could have a significant
impact on the City’s role as a Euro clearing
"UK clearing of OTC derivatives meets EU
standards but the use of UK clearing by EU banks will be
subject to negotiation, and if not fully recognised by the EU,
some relocation of clearing activities is likely," the
International Monetary Fund (IMF) said in its annual Global
Financial Stability Report on Tuesday.
This article is available exclusively to subscribers
Please log in to continue reading.
Not yet a subscriber?
Click here to take a free trial.
Already have an account? |
Please fill in your details below and a customer service representative will contact you.