European Union: Publication of Financial Sector Assessment Program Documentation—Detailed Assessment of Observance of the CPSS-IOSCO Principles for Financial Market Infrastructures
This paper discusses the main findings of the Detailed Assessment of Observance of the Committee on Payment and Settlement Systems–International Organization of Securities Principles for Financial Market Infrastructures (FMIs) for the European Union. Euroclear Bank’s risk framework is generally sound. Euroclear Bank should become operationally ready to fully implement plans for recovery and the orderly winding-down of operations. In anticipation of the emerging international regulatory standards and frameworks on recovery and resolution of FMIs, Euroclear Bank has developed recovery plans and plans for the orderly winding down of its operations. Important risk measures have been taken to reduce credit risk, but further improvements are needed to comply with the international standards.
Year of publication: |
2013-12-03
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Institutions: | International Monetary Fund (IMF) ; International Monetary Fund |
Subject: | Financial Sector Assessment Program | Europe | European Union | Payment systems | Securities markets | Banks | Reports on the Observance of Standards and Codes | European Economic and Monetary Union | collateral | clients | payments | cash correspondents | custody | shareholders | stress testing | segregation | counterparty | safekeeping | prices | custodian | third parties | pricing | confirmation | principal risk | shares | batch processing | confidentiality | rtgs | provisional transfers | clearing systems | collateral management services | custodians | reverse repo | physical securities | cash flows | custody risk | conflict of laws | custody services | caps | systemic risk | penalties | bilateral link | book entry securities | checks | cash payments | real time processing | protocols | cash advances | real time gross settlement | time zones |
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