France: Financial Sector Assessment Program—Detailed Assessment of Observance of CPSS/IOSCO Recommendations for Securities Settlement Systems and for Central Counterparties
IMF Staff Country Reports, July 1, 2013
Source details
- Canonical URL
- France: Financial Sector Assessment Program—Detailed Assessment of Observance of CPSS/IOSCO Recommendations for Securities Settlement Systems and for Central Counterparties
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Bibliographic details
- Published: July 1, 2013
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781484339701.002
Executive summary and key findings
- Assessment subject: Detailed Assessment of LCH.Clearnet SA Observance of the Committee on Payment and Settlement Systems/International Organization of Securities Commission (CPSS–IOSCO) Recommendations for Central Counterparties.
- Major finding: LCH.Clearnet SA displays a high level of observance of the CPSS/IOSCO recommendations.
- Legal basis: LCH.Clearnet SA has a sound, coherent, and transparent legal basis.
- Risk management:
- Developed an adequate risk-management framework to address financial and operational risks.
- Governance:
- Governance arrangements and composition of Boards and management are well defined and adequately staffed.
Subject areas and keywords
- Subject: Banking; Central counterparty clearing house; Credit default swap; Currencies; Financial markets; Financial regulation and supervision; Legal support in revenue administration; Money; Operational risk; Revenue administration
- Keywords: Banque Centrale de Compensation; British pound; central bank; Central counterparty clearing house; commercial bank; CR; Credit default swap; Currencies; event of default; Global; holding company; initial margin; ISCR; Legal support in revenue administration; margin call; Operational risk; participation requirement; risk management; U.S. dollar
France: Financial Sector Assessment Program—Detailed Assessment of Observance of CPSS/IOSCO Recommendations for Securities Settlement Systems and for Central Counterparties, IMF Staff Country Reports 2013, 183 (2013).