United States: Publication of Financial Sector Assessment Program Documentation: Detailed Assessment of Observance of the Fixed Income Clearing Corporation: Government Securities Division’s Observance of the CPSS-IOSCO Recommendations for Central Counterparties

May 15, 2010

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Format: Chicago

United States: Publication of Financial Sector Assessment Program Documentation: Detailed Assessment of Observance of the Fixed Income Clearing Corporation: Government Securities Division’s Observance of the CPSS-IOSCO Recommendations for Central Counterparties, (USA: International Monetary Fund, 2010) accessed October 2, 2024

Summary

This paper discusses key findings of the Detailed Assessment of Observance of the Fixed Income Clearing Corporation–Government Securities Division’s Observance of the Committee on Payment and Settlement Systems/International Organization of Securities Commissions (CPSS–IOSCO) Recommendations for Central Counterparties (CCP) for the United States. The assessment recommends that a CCP should have a well-founded, transparent, and enforceable legal framework for each aspect of its activities in all relevant jurisdictions. A CCP should require participants to have sufficient financial resources and robust operational capacity to meet obligations arising from participation in the CCP.

Subject: Banking, Central counterparty clearing house, Financial institutions, Financial markets, Financial regulation and supervision, Financial sector policy and analysis, Legal support in revenue administration, Operational risk, Revenue administration, Securities, Stress testing

Keywords: Central counterparty clearing house, Clearing banks, CR, Cross-margining agreement, Ficc-GSD member, Ficc-GSD's rule, ISCR, Legal support in revenue administration, Operational risk, Participation requirement, Repo arrangement Ficc-GSD, Rule filing, Securities, Settlement process, Stress testing

Publication Details

Pages:

31
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2010/130
Stock No:

1USAEA2010012
ISBN:

9781455206728
ISSN:

1934-7685

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