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Europe Daily Bulletin No. 9930

27 June 2009
Contents Publication in full By article 18 / 33
GENERAL NEWS / (eu) eu/financial services
Charlie McCreevy is prepared to act if industry fails to respect its pledge to set up a centralised clearing house

Brussels, 26/06/2009 (Agence Europe) - “If industry is unable to deliver on this commitment, we shall have to consider other ways to incentivise the use of CCP clearing for credit default swaps,” warned EU Internal Market Commissioner Charlie McCreevy in Dublin on 26 June 2009, addressing the Irish Institute for Accountants (ICAI). At the end of February 2009, the International Swaps and Derivatives Association (ISDA), representing the interests of major players on the derivatives...

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