Summary They have also agreed to extend their standing swap line to provide multi-currency support.
LONDON (Reuters) - The Bank of England and the European Central Bank have struck a deal to enhance sharing information about central counterparties located in Britain that have significant euro-denominated business, the BoE said on Sunday.
They have also agreed to extend their standing swap line to provide multi-currency support to central counterparties, it said in a statement. As a result, both parties had agreed to end any legal action related to the subject.
"These agreements not only strengthen financial stability across the EU, but also secure a very important principle of non-discrimination of countries outside the Eurozone, including Britain," finance minister George Osborne said in a separate statement. "This is vital to our relationship with the Eurozone, and is another step forward in terms of a reformed EU."
