The UK's approach to cross-border clearing

Christina Segal-Knowles will speak about the Bank of England's application of "safe openness" in its post-Brexit approach to non-UK CCPs clearing in the UK. When it left the EU, the UK onshored EMIR 2.2 a new legal framework for recognising, regulating and supervising non-UK central counterparties (CCPs). Under UK EMIR 2.2, the Bank is responsible for finalising policy on important areas of the implementation of EMIR 2.2 in the UK, including specifying further the approach to dividing non-UK CCPs into tiers according to their systemic importance. Christina will explain the Bank’s proposed approach and set out a vision for how regulation and supervision of global cross-border infrastructure can support global financial stability while preserving openness in wholesale financial services.