Sweden: Financial Sector Assessment Program-Technical Note-Supervision and Oversight of Financial Market Infrastructures

International Monetary Fund

No 2017/310, IMF Staff Country Reports from International Monetary Fund

Abstract: This Technical Note discusses the findings and recommendations made in the Financial Sector Assessment Program for Sweden in the areas of supervision and oversight of financial market infrastructures (FMIs). FMIs in Sweden are subject to appropriate and effective supervision and oversight by the Finansinspektionen (Financial Supervisory Authority, FI) and Sveriges Riksbank (Riksbank). The scope, basis, and objectives of each authority’s supervision and oversight are clearly defined and disclosed. There is evidence that the authorities’ supervision and oversight have effectively improved risk management practices at Swedish FMIs. There is also effective cooperation between the FI and Riksbank in the supervision and oversight of FMIs. The risk management at Nasdaq Clearing appears to be sound.

Keywords: ISCR; CR; financial market; investment counterparty; capital Nasdaq Clearing; risk profile; central bank; Clearing operation; liquidity risk framework; FI Infrastructure supervision division; risk tolerance; fixed income; risk-self assessment; oversight responsibility; risk management framework; FI state; default liquidity requirement; conduct self-assessments; parent company; Clearing capital; Nasdaq Clearing's liquidity risk framework; PFM information systems; Central counterparty clearing house; Stress testing; Principles for Financial Market Infrastructures; Liquidity; Baltics; Global (search for similar items in EconPapers)
Pages: 47
Date: 2017-10-05
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