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Bank of England: New approach to supervising global banks

Jaclyn Jaeger | January 2, 2018

Amid ongoing discussions on the U.K.’s future relationship with the European Union, the Bank of England announced plans to consult on an updated approach to authorising and supervising international banks and insurers.

Additionally, the Bank of England said it is issuing guidance on its approach to international central counterparties. It has also published letters to relevant firms setting out its approach to the authorisation of those firms, “so that this process can proceed in an orderly manner,” the Bank of England stated.

The Bank of England stated that the foundation of its approach is the presumption that “a high degree of supervisory cooperation” will continue between the...

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