Spain: Oversight and Supervision of Financial Market Infrastructures Technical Note
June 11, 2012
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This technical note focuses on financial market infrastructures (FMIs) in Spain. The way Spanish authorities supervise and oversee FMIs is an essential issue in promoting and maintaining domestic financial stability. Although systemically important payments systems are European or international based, there are currently four domestic securities settlement systems and three domestic central counterparties in Spain. Overall, authorities’ responsibilities with respect to FMIs are clearly defined in the law, but further transparency on Banco de España’s (BdE) responsibilities with respect to FMIs other than payments systems is recommended.
Subject: Banking, Central counterparty clearing house, Clearing and settlement systems, Financial institutions, Financial markets, Payment systems, PFM information systems, Public financial management (PFM), Securities
Keywords: Central counterparty clearing house, Clearing and settlement systems, CR, Europe, Global, ISCR, market condition, market liquidity condition, oversight responsibility, oversight team, payment system, Payment systems, PFM information systems, registry system, repo market closing, Securities, settlement system
Pages:
33
Volume:
2012
DOI:
Issue:
144
Series:
Country Report No. 2012/144
Stock No:
1ESPEA2012008
ISBN:
9781475504316
ISSN:
1934-7685
