Download or read book Canada Financial Sector Assessment Program Detailed Assessment of Observance of the CPSS IOSCO Recommendations for Securities Settlement Systems written by International Monetary Fund and published by INTERNATIONAL MONETARY FUND. This book was released on 2008-02-13 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Canadian Depository for Securities (CDS) is the operator of the securities settlement system. The design and operations of the CDS are covered by a solid legal basis. The regulatory framework is clear and transparent to market participants. The risk management procedures of the CDS as a Central Counterparty (CCP) have not yet been assessed against the Committee on Payments and Settlements Systems Recommendations for CCP. The CDS should explicitly assess the benefits and costs of acting as a CCP for trade-for-trade (TFT) transactions.
Download or read book France written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2013-07-01 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses key findings of the Detailed Assessment of LCH.Clearnet SA Observance of the Committee on Payment and Settlement Systems/International Organization of Securities Commission (CPSS–IOSCO) Recommendations for Central Counterparties. The findings reveal that LCH.Clearnet SA displays a high level of observance of the CPSS/IOSCO recommendations. It has a sound, coherent, and transparent legal basis. It has developed an adequate risk-management framework to address financial and operational risks. LCH.Clearnet SA governance arrangements and composition of Boards and management are well defined and adequately staffed.
Download or read book United States written by International Monetary Fund and published by International Monetary Fund. This book was released on 2010-05-14 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses key findings of the Detailed Assessment of Observance of the Depository Trust Company’s Observance of the Committee on Payment and Settlement Systems/International Organization of Securities Commissions (CPSS–IOSCO) Recommendations for Securities Settlement Systems for the United States. The assessment reveals that the legal framework provides a high degree of legal assurance that transactions are enforceable. The membership agreement into which participants enter is enforceable under New York State law. The assessment recommends that securities settlement systems should have a well-founded, clear, and transparent legal basis in the relevant jurisdictions.
Download or read book United States written by International Monetary Fund and published by International Monetary Fund. This book was released on 2010-05-14 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses key findings of the Detailed Assessment of Observance of the Fedwire Securities Service’s (FSS) Observance of the Committee on Payment and Settlement Systems/International Organization of Securities Commissions (CPSS–IOSCO) Recommendations for Securities Settlement Systems for the United States. The paper discusses that laws, regulations, rules, procedures, and contractual provisions governing the operations and activities of the FSS are public and readily accessible to system participants. The assessment recommends that securities settlement systems should have a well-founded, clear, and transparent legal basis in the relevant jurisdictions.
Download or read book United States written by International Monetary Fund and published by International Monetary Fund. This book was released on 2010-05-15 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses key findings of the Detailed Assessment of Observance of the National Securities Clearing Corporation’s (NSCC) Observance of the Committee on Payment and Settlement Systems/International Organization of Securities Commissions (CPSS–IOSCO) Recommendations for Central Counterparties (CCP) for the United States. The assessment recommends that a CCP should have a well-founded, clear, and transparent legal basis in the relevant jurisdictions. A CCP should require participants to have sufficient financial resources and robust operational capacity to meet obligations arising from participation in the CCP.
Download or read book United States written by International Monetary Fund and published by International Monetary Fund. This book was released on 2010-05-15 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses key findings of the Detailed Assessment of Observance of the Fixed Income Clearing Corporation–Government Securities Division’s Observance of the Committee on Payment and Settlement Systems/International Organization of Securities Commissions (CPSS–IOSCO) Recommendations for Central Counterparties (CCP) for the United States. The assessment recommends that a CCP should have a well-founded, transparent, and enforceable legal framework for each aspect of its activities in all relevant jurisdictions. A CCP should require participants to have sufficient financial resources and robust operational capacity to meet obligations arising from participation in the CCP.
Download or read book Germany written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2022-08-03 with total page 154 pages. Available in PDF, EPUB and Kindle. Book excerpt: Clearstream Banking Frankfurt (CBF) is a highly interconnected financial market infrastructure that provides a critical service for German financial markets and beyond. CBF is the central securities depository (CSD) in Germany providing mainly custody and settlement services, having received its license pursuant to Art. 16 of the CSDR on January 21, 2020 allowing it to perform core CSD services as well as non-banking ancillary services. It is also the operator of two securities settlement systems (SSS). In addition, CBF was authorized on August 24, 2021 to provide banking-type ancillary services as envisaged under Art. 54 CSDR.
Download or read book Canada written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2014-03-07 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents an assessment IMF report on implementation of the International Organization of Securities Commission (IOSCO) principles in Canada. It highlights that developing an integrated and robust view of risks to support supervisory actions remains a key challenge. The IMF report suggests that the securities regulators should continue to take steps to ensure timely decision making in policy formulation. However, the current governance arrangements, based on a consensus building approach across several entities, is expected to affect timeliness of decision making.
Download or read book Canada written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2014-03-07 with total page 147 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Detailed Assessment report, a part of the 2013 Financial Sector Assessment Program (FSAP) of Canada, assesses Canada’s regulatory regime and supervisory practices against the international standards. The IMF report suggests that the Office of the Superintendent of Financial Institutions (OSFI) should be empowered to take supervisory measures at the level of the holding company. It highlights that while OSFI requires Federally Regulated Insurers (FRI) FRIs to develop internal capital targets, requirements to develop an Own Risk and Solvency Assessment are scheduled to be implemented in 2014.
Download or read book Indonesia written by International Monetary Fund and published by International Monetary Fund. This book was released on 2012-07-18 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses findings of the joint IMF–World Bank Indonesia Financial Sector Assessment Program (FSAP) undertaken during 2009– 10. The assessment was conducted on processes and functions, as opposed to institutions and with the cooperation of the Bapepam-LK, the Bank Indonesia. It was found that the legal framework governing the clearing and settlement operations of the equity and corporate bond market supports some, but not all, of the key elements of the clearing and settlement process.
Download or read book Canada Financial Sector Assessment Program Detailed Assessment of the Level of Implementation of the IOSCO Principles and Objectives of Securities Regulation written by International Monetary Fund and published by INTERNATIONAL MONETARY FUND. This book was released on 2008-02-13 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: The regulatory framework for the securities market of Canada exhibits high levels of implementation of the International Organization of Securities Commissions' (IOSCO) Principles. The regulatory framework for most of the areas covered by securities regulation is robust. The general preconditions necessary for the effective regulation of securities markets appear to be in place in Canada. Nevertheless, there are gaps in the regulation and supervision of collective investment schemes (CIS), and enforcement is in need of further improvement, in terms of efficient use of resources.
Download or read book Canada written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2014-03-07 with total page 239 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper focuses on the IMF report on detailed assessment of observance of Basel Core Principles (BCP) for effective banking supervision in Canada. The Canadian banking supervisor (OSFI) adopts a close and cooperative approach that supports the close network of federal authorities in identifying and seeking to mitigate prudential risks to the federal system. As a world-leading regulator, OSFI could be expected to issue a comprehensive suite of risk management standards to be available to all banks, even if at a relatively high level or based largely on Basel Committee for Banking Supervision guidance.
Download or read book Distributed Ledger Technology Experiments in Payments and Settlements written by Mr.Ghiath Shabsigh and published by International Monetary Fund. This book was released on 2020-06-24 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: Major transformations in payment and settlements have occurred in generations. The first generation was paper-based. Delivery times for payment instruments took several days domestically and weeks internationally. The second generation involved computerization with batch processing. Links between payment systems were made through manual or file-based interfaces. The change-over period between technologies was long and still some paper-based instruments like checks and cash remain in use. The third generation, which has been emerging, involves electronic and mobile payment schemes that enable integrated, immediate, and end-to-end payment and settlement transfers. For example, real-time gross settlement systems have been available in almost all countries. DLT has been viewed as a potential platform for the next generation of payment systems, enhancing the integration and the reconciliation of settlement accounts and their ledgers. So far, experiments with DLT experimentations point to the potential for financial infrastructures to move towards real-time settlement, flatter structures, continuous operations, and global reach. Testing in large-value payments and securities settlement systems have partly demonstrated the technical feasibility of DLT for this new environment. The projects examined analyzed issues associated with operational capacity, resiliency, liquidity savings, settlement finality, and privacy. DLT-based solutions can also facilitate delivery versus payment of securities, payment versus payment of foreign exchange transactions, and efficient cross-border payments.
Download or read book Barbados written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2014-02-12 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses key findings of the Financial System Stability Assessment Report on Barbados. Barbados has a relatively well-developed financial system, including a large offshore sector. The onshore system is dominated by large, regionally active banks. Banking services to the population are also provided by the credit union sector. With a deteriorating fiscal situation and weak growth prospects, Barbados faces considerable macroeconomic vulnerabilities. Although the financial system does not appear to be a source of immediate risk, its position appears to be deteriorating, with implications for systemic stability.
Download or read book Germany written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2016-06-29 with total page 118 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper evaluates the risks and vulnerabilities of the German financial system and reviews both the German regulatory and supervisory framework and implementation of the common European framework insofar as it is relevant for Germany. The country is home to two global systemically important financial institutions, Deutsche Bank AG and Allianz SE. The system is also very heterogeneous, with a range of business models and a large number of smaller banks and insurers. The regulatory landscape has changed profoundly with strengthened solvency and liquidity regulations for banks (the EU Capital Requirements Regulation and Directive IV), and the introduction of macroprudential tools.
Download or read book Singapore written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2019-07-15 with total page 130 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Detailed Assessment of Observance on the Committee on Payment and Settlement Systems-International Organization of Securities Commissions Principles for Financial Market Infrastructures on Singapore discusses that the Monetary Authority of Singapore (MAS) has taken important steps to address the recommendations made for capital market financial market infrastructures (FMIs). MAS has led efforts to develop international guidance on the cyber resilience for FMIs and moved swiftly to strengthen Singapore’s governance and resiliency of the payment system. The assessment of New MAS Electronic Payment and Book-Entry System (MEPS+) finds that most of the principles are observed, however, also identifies opportunities for further improvement relative to international best practices. One of the several observations is that the legal basis is sound with further enhancements made for insolvency protection, designation criteria, and administrative powers for MAS. Also, governance arrangements are clear and transparent and should continue to ensure the independence of the oversight and supervisory functions for MEPS+.
Download or read book Recommendations for Central Counterparties written by Group of Ten. Committee on Payment and Settlement Systems and published by . This book was released on 2004 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt:
