RBI and ESMA Indication Landmark MoU on CCP Recognition
The Get Financial Institution of India (RBI) and the European Securities and Markets Authority (ESMA) have inked an important Memorandum of Recognizing (MoU) assisting in information exchange for the acknowledgment of main counterparties (CCPs).
* Aims to settle long-lasting disputes over the guidance of Indian CCPs, consisting of the Clearing up Firm of India Ltd (CCIL).
* Allows European banks to clear transactions using CCIL.
* Establishes a structure for ESMA to count on RBI’s governing oversight.
* Changes a previous MoU from 2017
* ESMA is in talks with SEBI and IFSCA in conclusion comparable pacts.
