English

The New York Fed's reply to questions posed by the EU Commission regarding clearing and settlement

In 2005, the European Commission's "Clearing and Settlement Legal Certainty Group" devised a questionnaire in order to determine legal obstacles to the envisaged international clearing and settlement mechanism that would permit the swift international transfer of assets as collateral for financial instruments, ultimately for the benefit of "secured creditors." This document contains the replies to this questionnaire given by the New York Federal Reserve. For context, see David Rogers Webb's free book "The Great Taking" at https://thegreattaking.com/ .

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