The Reserve Bank and the European Securities and Markets Authority (ESMA) have entered into an agreement on exchange of information in relation to Central Counterparties (CCPs).
The two entities have signed a Memorandum of Understanding (MoU) concerning cooperation and exchange of information in relation to CCPs regulated and supervised by the Indian central bank, the RBI said in a statement.
"This MoU replaces an earlier MoU between RBI and ESMA, which was entered into on February 28, 2017," it said.
The agreement enables RBI and ESMA to cooperate regarding CCPs, in line with their respective laws and regulations.
It establishes a framework for ESMA to place reliance on RBI's regulatory and supervisory activities while safeguarding the European Union's financial stability.
The MoU also demonstrates the importance of cross-border cooperation to facilitate international clearing activities, the RBI said.
RBI Executive Director Vivek Deep and ESMA Chair Verena Ross signed the MoU.
The two entities have signed a Memorandum of Understanding (MoU) concerning cooperation and exchange of information in relation to CCPs regulated and supervised by the Indian central bank, the RBI said in a statement.
"This MoU replaces an earlier MoU between RBI and ESMA, which was entered into on February 28, 2017," it said.
The agreement enables RBI and ESMA to cooperate regarding CCPs, in line with their respective laws and regulations.
It establishes a framework for ESMA to place reliance on RBI's regulatory and supervisory activities while safeguarding the European Union's financial stability.
The MoU also demonstrates the importance of cross-border cooperation to facilitate international clearing activities, the RBI said.
RBI Executive Director Vivek Deep and ESMA Chair Verena Ross signed the MoU.
