United States: Publication of Financial Sector Assessment Program Documentation: Reports on Observance and Codes
IMF Staff Country Reports, July 30, 2010
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- United States: Publication of Financial Sector Assessment Program Documentation: Reports on Observance and Codes
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Bibliographic details
- Published: July 30, 2010
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781455206773.002
Summary of scope and assessments
- The report gives a summary of the detailed assessment report on the implementation of the Basel Core Principles for Effective Banking in the United States and its recommendations.
- Coverage includes:
- securities and futures market regulatory framework,
- insurance regulation,
- Fixed Income Clearing Corporation - Government Securities Division (FICC-GSD) system,
- Depository Trust Company (DTC) assessed against the Recommendations for Securities Settlement Systems (RSSS),
- National Securities Clearing Corporation (NSCC) assessed against the Recommendation for Central Counterparties (RCCP),
- Fedwire Securities Service (FSS) assessed against the Committee on Payment and Settlement Systems - International Organization of Securities Commission (CPSS-IOSCO) RSSSs.
- The U.S. authorities welcomed the Financial Sector Assessment Program (FSAP) and independent reviews, and appreciated significant undertaking associated with reviews in the wake of the crisis.
Key findings and thematic areas
- Banking:
- Implementation assessment of the Basel Core Principles for Effective Banking in the United States.
- Market infrastructure and payments:
- Assessment of FICC-GSD system operations and business continuity arrangements.
- Assessment of DTC against RSSS.
- Assessment of NSCC against RCCP, including NSCC business continuity arrangement.
- Assessment of FSS against CPSS-IOSCO RSSSs; includes FSS participation requirements.
- Insurance:
- Assessment of insurance regulation and Insurance companies.
- Governance and crisis-related measures:
- Observations on governance arrangements, default procedure, business continuity arrangement.
- Cross-cutting subjects identified:
- Banking, Central counterparty clearing house, Financial crises, Financial institutions, Financial markets, Insurance, Insurance companies, Securities.
Keywords and technical terms preserved
- authority; business continuity arrangement; Central counterparty clearing house; CR; default procedure; FICC-GSD business continuity arrangement; Fixed Income Clearing Corporation-Government Securities Division; FSS participation requirements; fund; Global; governance arrangement; Insurance; Insurance companies; ISCR; NSCC business continuity arrangement; Securities.
Publication metadata and distribution
- Publication date: July 30, 2010
- Pages: 98
- Volume: 2010
- Issue: 250
- Series: Country Report No. 2010/250
- DOI: https://doi.org/10.5089/9781455206773.002
- Stock No: 1USAEA2010017
- ISBN: 9781455206773
- ISSN: 1934-7685
International Monetary Fund. "United States: Publication of Financial Sector Assessment Program Documentation: Reports on Observance and Codes", IMF Staff Country Reports 2010, 250 (2010).