Spain: Financial Sector Assessment Program: Detailed Assessment of the CPSS Core Principles for Systemically Important Payment Systems

International Monetary Fund

No 2006/221, IMF Staff Country Reports from International Monetary Fund

Abstract: The assessment of the Systemically Important Payment System (SIPS) in Spain against the Committee on Payment and Settlement Systems (CPSS) Core Principles was undertaken as part of the Financial Sector Assessment Program (FSAP). It assesses the Observance of Core Principles for Systemically Important Payment Systems (CPSIPS) of the IMF and the World Bank. It reviews the discussions of the staffs of the Banco de España (BE) and commercial banks. It analyzes the self assessment by the BE and the assessment of the Euro Large-Value Payment System against the core principles published by the European Central Bank.

Keywords: ISCR; CR; risk management; insolvency proceedings; payment order; BE representative; BE computer; BE oversight function; financial risk; credit risk; consultation process; liquidity reservation facility; manual of the SLBE; SLBE system; system objective; Payment systems; Credit; Large value payment systems; Liquidity risk; Clearing and settlement systems; Western Hemisphere; Central America (search for similar items in EconPapers)
Pages: 29
Date: 2006-06-14
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