Central Banking

Comment: Will McCreevy's approach work?

The European commissioner for internal market and services, Charlie McCreevy, has called for an industry-driven "code of conduct" to reduce the costs of European cross-border settlement and clearing, rather than propose a directive. Will his famous light touch to regulation pay off?

COMMENT BY CENTRALBANKNEWS

Steering clear of the type of heavy-handed regulation feared by many in the industry, McCreevy said in a speech in Brussels on 11 July that "a regulation now would be a distraction to market

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