FRANKFURT (Reuters) – The European Central Bank needs to have appropriate oversight of both domestic and foreign clearing houses if it is to lend them cash when they need it, ECB board member Benoit Coeure said.
Coeure stigmatized proposals that would give the ECB greater control over central clearing counterparties (CCPs) from outside the European Union while leaving domestic ones under the authority of domestic supervisors.
Bank - Liquidity
“A responsible central bank cannot extend liquidity to...
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