Spain: Financial Sector Assessment Program-Technical Note on Regulation, Supervision, Oversight, and Crisis Management of Financial Market Infrastructures

August 1, 2024

Preview Citation

Format: Chicago

Spain: Financial Sector Assessment Program-Technical Note on Regulation, Supervision, Oversight, and Crisis Management of Financial Market Infrastructures, (USA: International Monetary Fund, 2024) accessed September 16, 2024

Summary

The FSAP’s focus was on selected topics in relation to the regulation, oversight and supervision of two Financial Market Infrastructures (FMIs) in Spain, Bolsas y Mercados Españoles Clearing (BMEC), a central counterparty (CCP), and Iberclear (IC) a central securities depository (CSD). Within this scope, this technical note focuses on: (i) the responsibilities of the Spanish authorities in the supervision and oversight of BMEC and IC with respect to compliance with the Principles for Financial Market Infrastructures (PFMIs) of the Committee on Payments and Markets Infrastructures and the International Organization of Securities Commissions (CPMI-IOSCO); (ii) the supervision of margining practices of BMEC; and (iii) the supervision of recovery procedures of BMEC and IC.

Subject: Central counterparty clearing house, Central securities depositories, Financial institutions, Financial markets, Financial sector policy and analysis, PFM information systems, Public financial management (PFM), Securities, Stress testing

Keywords: Central counterparty clearing house, Central securities depositories, Commission Delegated Regulation, Europe, Financial instruments regulation, Infrastructure regulation, Markets authority, PFM information systems, Resolution regulation, Securities, Stress testing

Publication Details

Pages:

59
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2024/262
Stock No:

1ESPEA2024007
ISBN:

9798400285882
ISSN:

1934-7685

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