Indian and European regulators negotiate clearing house oversight; ESMA withdrew recognition from six Indian CCPs due to RBI rejection of co-supervision.
Indian and European regulators are negotiating oversight issues related to local clearing houses, aiming for a resolution by the end of October. The Reserve Bank of India rejected a request from the European Securities and Markets Authority (ESMA) to co-supervise transactions, prompting ESMA to withdraw recognition from six Indian central counterparties. Banks are advised to create alternative arrangements to avoid disruptions in trading government bonds and derivatives.
October 04, 2024
3 Articles