To ask Her Majesty’s Government who has regulatory responsibility for approving cross-margining agreements between central clearing houses and the determination of priority in the event of default.
Answered on
6 June 2016
Under European Regulation No 648/2012 (EMIR) CCPs in the UK are regulated by the Bank of England. For other information I refer the noble Lord to my written answers of 1 April (HL7153) and 26 April (HL7583, HL7584, HL7585, and HL7586).
Answered by
Treasury