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Abstract:LONDON (Reuters) – The Bank of England said on Friday that it was deepening its cooperation with the United States Commodities Futures Trading Commission regarding the supervision of cross-border central counterparties (CCPs), a key part of financial infrastructure.
LONDON (Reuters) – The Bank of England said on Friday that it was deepening its cooperation with the United States Commodities Futures Trading Commission regarding the supervision of cross-border central counterparties (CCPs), a key part of financial infrastructure.
“The CFTC and the Bank reaffirm the primacy of the UK and US home authorities in their respective jurisdictions,” the BoE said in a statement.
The BoE said that it would recognise CFTC assessments of U.S.-based CCPs which operate in Britain.
“This assessment enables the Bank to place reliance on the CFTCs supervision and oversight of incoming CCPs based in the US,” it said.
(Reporting by David Milliken, editing by Andy Bruce)
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