Global Finance Collaboration: RBI and ESMA Revamp Information Exchange Deal

The Reserve Bank of India (RBI) and the European Securities and Markets Authority (ESMA) have revamped their 2017 Memorandum of Understanding. The agreement focuses on cooperation and information exchange related to Central Counterparties (CCPs). It aims to bolster the EU's financial stability while enhancing international clearing activities.

In a significant development, the Reserve Bank of India (RBI) and the European Securities and Markets Authority (ESMA) have updated their Memorandum of Understanding (MoU) concerning the exchange of information and cooperation on Central Counterparties (CCPs).

The newly signed MoU replaces the earlier agreement established in 2017, reflecting a reinforced commitment to international collaboration. The bilateral relationship aims to enhance regulatory activities and safeguard the financial stability of the European Union.

RBI Executive Director Vivek Deep and ESMA Chair Verena Ross formalized the agreement, underscoring the importance of cross-border cooperation for facilitating international financial clearing operations.

(With inputs from agencies.)