Carney warns Germany and France of Brexit derivatives cliff edge

Bank of England governor says it is in “interest” of EU countries to ensure full viability of financial contacts ahead of Brexit

Mark Carney
Mark Carney warns of unnecessary stress to European financial system

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, warns Mark Carney, governor of the Bank of England. He calls on European lawmakers to address the matter before October 31.

The UK central bank – which has micro- and macroprudential oversight of the UK financial system, as well as resolution responsibilities for

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