Christina Segal-Knowles: The UK's approach to cross-border clearing
Speech by Ms Christina Segal-Knowles, Executive Director for Financial Markets Infrastructure of the Bank of England, at FIA, online, 8 November 2021.
Central bank speech
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02 December 2021
Good morning/good afternoon.
Today I am going to speak about the UK's approach to tiering, recognising and supervising cross-border central counterparties (CCPs).
Before I jump into that, I thought I would share a quote that could provide context for why I believe getting this right is so important.
On September 25 2009 G-20 leaders met in Pittsburgh. It was one year after the collapse of Lehman Brothers and five months after Gordon Brown hosted the second ever G-20 meeting in London amid a rapidly escalating global financial crisis. Their statement is quite remarkable.