Central counterparties: what are they, why do they matter and how does the Bank supervise them?

Amandeep Rehlon () and Dan Nixon ()
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Amandeep Rehlon: Bank of England
Dan Nixon: Bank of England

Bank of England Quarterly Bulletin, 2013, vol. 53, issue 2, 147-156

Abstract: The Government introduced major changes to the system of financial regulation in the United Kingdom in April 2013, including creating the Financial Policy Committee and transferring significant new supervisory responsibilities to the Bank. As part of this, the Bank is now responsible for the supervision of central counterparties, or CCPs. This article explains what CCPs are, setting out their importance for the financial system — including the benefits they bring and some of the risks they could present if not properly managed. It also summarises the Bank’s approach to supervising CCPs and describes some of the key priorities the Bank will be pursuing.

Date: 2013
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