The Securities and Exchange Board of India (SEBI) has signed a memorandum of understanding (MoU) with the Bank of England (BoE) to facilitate cooperation and the exchange of information relating to clearing corporations recognised by the Indian capital markets regulator.
The agreement establishes a framework for the BoE to rely on SEBI’s regulatory and supervisory activities while safeguarding the UK’s financial stability, SEBI said in a statement.
The MoU enables SEBI and the BoE to cooperate on matters relating to central counterparties, in accordance with their respective laws and regulations.
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The agreement underscores the importance of cross-border cooperation in facilitating international clearing activities, SEBI added.
The Bank of England is the central bank of the United Kingdom.