Reuters: Exclusive: French bankers seek EU law to move euro clearing from London

French Banking Federation, France’s banking industry body, wants a new European Union law that would force non-EU banks to shift swathes of euro derivatives clearing from the City of London to Frankfurt, people familiar with the matter said.

The FBF wants a new EU law to make possible “forced relocation” of euro clearing by non-EU banks, the sources added.

The French industry body also wants a “roadmap” combining such new legislation and other steps to relocate euro clearing by force, the sources said. This would be aligned with efforts by Deutsche Boerse’s Eurex clearing arm in Frankfurt to broaden its service.

The full article is available at https://www.reuters.com/article/britain-eu-clearing/exclusive-french-bankers-seek-eu-law-to-move-euro-clearing-from-london-sources-idUSL2N2L01Z0

Related Posts

Previous Post
ECB’s SESFOD shows substantial decreases in financing rates/spreads for most secured funding in Sep-Nov 2020
Next Post
Tradeweb’s repo ADV up 41.9% YoY to $343.8 bn in February 2021

Related Posts

Fill out this field
Fill out this field
Please enter a valid email address.

Menu
X

Reset password

Create an account