Canada: Financial Sector Assessment Program: Detailed Assessment of Observance of the CPSS/IOSCO Recommendations for Securities Settlement Systems
IMF Staff Country Reports, February 13, 2008
Source details
- Canonical URL
- Canada: Financial Sector Assessment Program: Detailed Assessment of Observance of the CPSS/IOSCO Recommendations for Securities Settlement Systems
Other formats
Bibliographic details
- Published: February 13, 2008
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451807035.002
Summary and key findings
- The Canadian Depository for Securities (CDS) is the operator of the securities settlement system.
- The design and operations of the CDS are covered by a solid legal basis.
- The regulatory framework is clear and transparent to market participants.
- The risk management procedures of the CDS as a Central Counterparty (CCP) have not yet been assessed against the Committee on Payments and Settlements Systems Recommendations for CCP.
- The CDS should explicitly assess the benefits and costs of acting as a CCP for trade-for-trade (TFT) transactions.
Subject coverage and keywords
- Subject: Central counterparty clearing house, Collateral, Credit default swap, Financial institutions, Financial markets, Money, Securities, Securities settlement systems
- Keywords: BOC securities transaction, cash settlement, CDS participant, CDS settlement agent, CDS settlement bank, CDS website, Central counterparty clearing house, clearing house, Collateral, commercial paper, CR, Credit default swap, financial risk, Global, ISCR, nominee name, replacement cost, risk-control procedure, Securities, securities clearing, Securities settlement systems, security interest, settlement account