Carney warns Germany and France of Brexit derivatives cliff edge

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L to R: Mark Carney with Central Banking’s Christopher Jeffrey and Daniel Hinge

L to R: Mark Carney with Central Banking’s Christopher Jeffrey and Daniel Hinge

The failure of Germany and France to amend rules related to the treatment of some over-the-counter derivatives contracts ahead of the UK’s exit from the European Union could cause unnecessary stress to the European financial system, according to Mark Carney, governor of the Bank of England. Carney calls on European lawmakers to address the matter before October 31.

The UK central bank – which has micro- and macro-prudential oversight of the UK financial system, as well as resolution



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