Current Affairs - International - Discussion

The Bank of England (BoE), the central bank of the United Kingdom, signed a Memorandum of Understanding (MoU) with the Securities and Exchange Board of India (SEBI) to strengthen regulatory cooperation concerning clearing corporations. The agreement establishes a framework for cooperation and information exchange regarding Central Counterparties (CCPs) recognised by SEBI. It also allows the Bank of England to rely on SEBI's regulatory and supervisory activities while safeguarding the financial stability of the UK. Established in 1694 and headquartered in London, the Bank of England plays an important role in the UK's financial system.