In response to the upcoming requirements under the European Markets Infrastructure Regulation (EMIR), Belgium’s Bank J.Van Breda & C° has selected ABN AMRO Clearing as its general clearing counterparty for OTC derivatives transactions including interest rate swaps (IRS).
“We always aim to be at the forefront when new regulation needs to be implemented,” says Peter Devlies, chief financial officer and member of the board at Bank J Van Breda & C°. “This pro-active adoption of central clearing for IRS contracts is a testimony of our ambition to always have solutions in place well in time, such that we are properly compliant as of when rules become mandatory.”
“We remain committed to the delivery of central clearing solutions for IRS in a time when many service providers are pulling out,” says Alexander Jacobs, global product manager, OTC Derivatives, at ABN AMRO Clearing.
Belgian Bank Selects ABN AMRO for Swaps Clearing
In response to the upcoming requirements under the European Markets Infrastructure Regulation (EMIR), Belgium’s Bank J.Van Breda & C° has selected ABN AMRO Clearing as its general clearing counterparty for OTC derivatives transactions including interest rate swaps (IRS).
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