Euro Area Policies: Financial Sector Assessment Program-Technical Note-Supervision and Oversight of Central Counterparties and Central Securities Depositories

International Monetary Fund

No 2018/227, IMF Staff Country Reports from International Monetary Fund

Abstract: Regulation, supervision, and oversight of central counterparties (CCPs) and central securities depositories (CSDs) in the euro area is evolving. Recent proposed amendments to the European Market Infrastructure Regulation (EMIR) are expected to further alter the landscape, as is the European Central Bank (ECB) proposal to amend article 22 of the Statute of the European System of Central Banks (ESCB) and the ECB. The main objective of this note is to analyze the regulatory and supervisory structure applicable to CCPs and International CSDs (ICSDs) in the European Union (EU) and assess their suitability using international standards and good practices.

Keywords: ISCR; CR; central bank; EU authority; CCP college; ECB statute; ESMA representative; EU market; risk management rule; stress test; third-country CCP; CCP stress test; EU bank; CCP supervisor; CCP supervision; oversight of central counterparties; ECB information system; ECB proposal; Central counterparty clearing house; Central securities depositories; Financial sector stability; Liquidity; Currencies; Global (search for similar items in EconPapers)
Pages: 32
Date: 2018-07-19
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