CPSS and IOSCO Issue Final Report on Principles for Financial Market Infrastructures

by Sabrina I. Pacifici on April 16, 2012

CPSS and IOSCO Issue Final Report on Principles for Financial Market Infrastructures and Seek Comment on Two Consultative Documents

  • “The Committee on Payment and Settlement Systems (CPSS) and the Technical Committee of the International Organization of Securities Commissions (IOSCO) today published the final report on the Principles for Financial Market Infrastructures. The report updates, harmonizes, and strengthens the risk management and related standards applicable to financial market infrastructures (FMIs), including systemically important payment systems, central securities depositories, securities settlement systems, central counterparties, and trade repositories. CPSS and IOSCO also released for comment the Disclosure Framework for Financial Market Infrastructures (Disclosure Framework) and the Assessment Methodology for the Principles for FMIs and the Responsibilities of Authorities (Assessment Methodology). The final report replaces the standards previously published by CPSS and CPSS-IOSCO in the Core Principles for Systemically Important Payment Systems, Recommendations for Securities Settlement Systems, and Recommendations for Central Counterparties. CPSS and IOSCO expect the principles in the final report to play an important role in the regulation of FMIs around the world. The report supports the initiatives of the Group of Twenty Finance Ministers and Central Bank Governors (G-20) and the Financial Stability Board to strengthen core financial infrastructures and markets.”
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