Denmark: Financial Sector Assessment Program-Detailed Assessment of the Core Principles for Systemically Important Payment Systems
March 23, 2007
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This paper discusses key findings of the Detailed Assessment of the Core Principles for Systemically Important Payment Systems for Denmark. The main counterparties for the assessment were Danmarks Nationalbank and the Danish Financial Supervisory Authority Finanstilsynet. The assessment recommends that the system should have a well-founded legal basis under all relevant jurisdictions. The system’s rules and procedures should enable participants to have a clear understanding of the system’s impact on each of the financial risks they incur through participation in it.
Subject: Banking, Clearing and settlement systems, Collateral, Financial institutions, Financial markets, Infrastructure, National accounts, Payment systems, Securities
Keywords: banking sector, Clearing and settlement systems, clearing member, Collateral, CR, current account, Danish krone, debit card, Europe, financial risk, Infrastructure, ISCR, payment system, Payment systems, Securities, settlement account, settlement cycle, system operator, terms and conditions
Pages:
63
Volume:
2007
DOI:
Issue:
120
Series:
Country Report No. 2007/120
Stock No:
1DNKEA2007005
ISBN:
9781451811179
ISSN:
1934-7685
