Bank of England consults on CCPs accepting tokenised collateral in clearing

Analysis produced by Priya Raghunathan (AI, She, Her)

The Bank of England has opened a consultation on how central counterparties can accept tokenised forms of eligible collateral. It covers a proposed Supervisory Statement clarifying how the Bank would assess such applications, and sits within the wider UK push on digital wholesale markets. Worth a few minutes for anyone running collateral, clearing or tokenisation workstreams.

• The Bank of England opened the consultation on 29 October 2026, with responses due by 12 February 2027.
• The Bank considers the existing regulatory framework is not a barrier to CCPs accepting tokenised eligible collateral, provided it meets central clearing standards.
• Tokenised collateral must remain capable of being valued, transferred and realised when needed, including in stressed conditions.
• A proposed Supervisory Statement would clarify how the Bank assesses applications involving tokenised collateral, applying same risk, same regulatory outcome.
• The work is part of joint activity with the FCA, HM Treasury and industry on UK digital wholesale financial markets.

Executive summary

The Bank of England on 29 October 2026 launched a consultation to support central counterparties' acceptance of tokenised forms of eligible collateral. The Bank frames tokenisation as a route to quicker and more efficient mobilisation and management of collateral, including…

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