ECB Official Embraces Greater Powers To Oversee CCPs

Law360, London (November 10, 2017, 5:41 PM GMT) -- A senior European Central Bank official said on Friday that the central bank "strongly welcomes" the greater powers it will be given to supervise clearinghouses after the U.K. leaves the European Union.

Yves Mersch, a member of the executive board of the ECB, said that giving central banks a strengthened role in the regulation of clearinghouses is of “crucial importance” because of the fundamental impact they can have on monetary policy. But he warned that controls will need to be put in place.

Mersch spoke after...
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