ECB official is optimistic about BoE clearinghouse deal

07/10/2013 | Reuters

Joerg Asmussen, a member of the European Central Bank Executive Board, says the ECB should be able to agree with the Bank of England on the location of clearinghouses. Britain is challenging an ECB requirement that clearinghouses dealing with a significant amount of securities denominated in the euro be based in the euro area. "It remains to be seen when and what the court will decide. I'm often hopeful, and it's often preferable to have a solution before that," Asmussen said. "We are working on this together with the Bank of England; let's see what we can do."

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