LCH, JP Morgan question BoE’s CCP resolution powers
Isda AGM: UK proposals give central bank broad powers to intervene in winding up stricken clearers
Senior risk managers at the UK’s largest central counterparty and one of its biggest members have questioned the scope of the UK’s proposed CCP resolution framework. The draft rules would give broad powers to the Bank of England to allocate losses and intervene in the resolution of failing UK clearing houses.
In February, a UK Treasury consultation requested feedback on its proposed CCP resolution framework, which would set the powers the BoE would hold as resolution authority in closing down a
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