Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what discussions she has had with her European Union counterparts on the future of EU denominated clearing in the UK beyond June 2025.

The EU took the decision in early 2022 to extend its equivalence decision for UK central counterparties, made under Article 25 of the European Market Infrastructure Regulation, until June 2025. Equivalence decisions are made on a unilateral basis by EU authorities and it is therefore a decision for EU authorities on whether this is extended. The UK Government is committed to maintain and strengthen our high standards for CCP regulation.