The Global Association of Central Counterparties (“CCP Global”) is the international association for central counterparties (“CCPs”), representing 44 members who operate over 60 individual CCPs across the Americas, EMEA, and the Asia-Pacific region.
CCP Global appreciates the opportunity to respond to the Bank of England’s (“BoE” or “the Bank”) Consultation paper “Ensuring the resilience of CCPs”1 (“the Consultation” or “the Paper”). We commend the BoE for continuing to prioritize financial stability in its policy making and its objective to make the new UK rulebook for CCPs more agile, which is particularly important in the constantly evolving world of finance. CCP Global would like to contribute to the Consultation by making a few targeted comments in response to specific proposals found in the Paper, as outlined below.
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