India Exploring Options for Banks Hit by EU Oversight Rule
- Unilateral regulatory actions to undermine financial stability
- ESMA’s demand for regulatory oversight extra-territorial reach
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The Reserve Bank of India is working on alternate arrangements for banks whose local operations will get hit if Europe’s markets regulator withdraws recognition to Indian central counterparties.
The RBI and European Securities and Markets Authority are clashing over ESMA’s demand to join the RBI in overseeing Indian transactions.