BoE holds meetings with foreign banks in India; keen to resolve CCIL logjam

European regulators' decision affects more market segments than US norms

In recent individual meetings with some foreign banks in India, the Bank of England has shown willingness to resolve the matter of de-recognition of the Clearing Corporation of India, sources told Business Standard.

“They (the BoE) seem quite keen to now reach out and resolve this. They are also very busy with Brexit. CCIL has to apply. If they apply, the BoE can see what regulation needs to be changed. If Parliament has to change some law, they can work on it etc. There are talks on multiple fronts,” a source said.

Following the decision of the European Securities and