LONDON, Sept 21 (Reuters) - The European Commission has
approved a proposal to allow clearing houses in Britain to
continue serving European Union customers for 18 months from
January, its financial services chief said on Monday.
"This will ensure financial stability, give market
participants 18 months to reduce their excessive exposures to UK
CCPs, allow EU CCPs to build up their clearing capability,"
Valdis Dombrovskis said on Twitter.
Britain left the EU in January and its unfettered access to
the bloc ends in December. LCH, a unit of the London Stock
Exchange, clears the bulk of euro-denominated interest rate
swaps.
(Reporting by Huw Jones; Editing by Catherine Evans)