10/11/2021 (Agence Europe) – The Commissioner for Financial Services, Mairead McGuinness, announced, on Wednesday 10 November that the Commission would “soon” propose an “extension of the equivalence decision for UK central clearing houses (CCPs)”, initially limited to 30 June 2022 (see EUROPE 12564/9). In the Commission’s view, while over-reliance on UK-based CCPs for certain clearing activities is a source of risk to financial stability in the medium term, an abrupt interruption of access to clearing services could be a risk to financial stability in the short term. She added that the June 2022 deadline is too short to have a strong and attractive clearing capacity in the EU. Ms McGuinness said she also intends to present measures in 2022, including national capacity building and supervision, to make EU-based CCPs more attractive to market participants. More info: https://bit.ly/2YE9jhC (CG)