Business Standard

Bank of England in talks to defer deadline for CCIL de-recognition

ESMA under pressure after de-recognising in October six Indian clearinghouses including the CCIL


Bank of England

Bhaskar Dutta Mumbai
In recent talks with foreign banks operating in India, Bank of England (BoE) is said to be strongly considering deferring the de-recognition of the Clearing Corporation of India (CCIL), with the overseas regulator mulling at least a two-year extension of the deadline, sources said.
“It seems very likely that the June 30 deadline that was given by BoE will now be postponed, based on the latest discussions with overseas regulators. That could also put some pressure on the ESMA (European Securities and Markets Authority) regarding the issue,” a source aware of the developments told Business Standard.
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First Published: Jan 19 2023 | 2:44 PM IST

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