European Union: Detailed Assessment of Implementation of the European Central Bank Observance of the CPSS-IOSCO Responsibilities of Authorities for Financial Market Infrastructure

International Monetary Fund

No 2014/035, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper discusses key findings of the detailed assessment of implementation of the European Central Bank (ECB) Observance of the Committee on Payment and Settlement Systems/International Organization of Securities Commission (CPSS-IOSCO) responsibilities of authorities for financial market infrastructures. The oversight framework of the ECB is comprehensive. The ECB has developed a wide-ranging oversight policy, including quantitative and qualitative criteria to identify, monitor, and remedy any potential systemic risks related to financial market infrastructures. It has also developed oversight standards covering a broad range of infrastructures, service providers, and payment schemes within the euro area.

Keywords: ISCR; CR; payment system; ECB oversight staff; ECB oversight team; ECB coordinate; ECB overseer; ECB oversight framework; ECB oversight function; ECB representative; envisaged ECB regulation; ECB statute; ECB staff member; ECB opinion; ECB oversight role; ECB observance; Payment systems; PFM information systems; Bonds; Legal support in revenue administration; Central securities depositories; Global; Europe (search for similar items in EconPapers)
Pages: 40
Date: 2014-02-11
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