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BoE welcomes European Commission decision on UK clearers

LONDON, Sept 21 (Reuters) - The Bank of England said on Monday it welcomed the European Commission’s decision to allow clearing houses or central counterparties (CCPs) in Britain to continue serving EU customers for 18 months from January 2021.

“The decision is an important step to mitigate financial stability risks around the end of the year when the implementation period following the UK’s exit from the EU comes to an end,” the BoE said in a statement.

“However, this equivalence decision is time-limited and will expire in June 2022.” (Reporting by Andy Bruce; editing by Kate Holton)

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