BoE warns of potential disruption to clearing business for EU firms
Fragmentation of market-based finance could result in greater costs and risk for European Union and UK companies
Financial services such as derivatives clearing face potential disruption as a consequence of the UK’s withdrawal from the European Union, the Bank of England (BoE) warns.
In its Financial Stability Report, published on June 27, the central bank’s Financial Policy Committee (FPC) – responsible for ensuring the UK financial system is resilient to a wide range of risks – said there could be material dislocation of some services supplied from the UK to the EU.
With more than half of UK-based
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