FIA and ISDA have responded to the Bank of England's proposed statement of policy on discretionary payments by CCPs.
The associations support the proposal and agree that this new power is an important component in the BoE's supervisory toolkit. They welcome the BoE's explanation that it will consider the maintenance of public confidence in the UK financial system as part of the public interest when exercising this power.
The associations also note that they would welcome further guidance on how the BoE intends to consider the maintenance of public confidence in the UK financial system when using other supervisory and resolution powers.
Read the response in full.
- CCP Risk
- Operational and Regulatory Guidance