The People's Republic of China: Financial Sector Assessment Program; Systemic Oversight of Financial Market Infrastructures - Technical Note

IMF Staff Country Reports, June 26, 2018

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Canonical URL: The People's Republic of China: Financial Sector Assessment Program; Systemic Oversight of Financial Market Infrastructures - Technical Note

Analyzes financial stability issues related to financial market infrastructures (FMIs) in China.
Reviews developments since the previous Financial Sector Assessment Program with emphasis on supervision and oversight of FMIs.

Supervision and oversight of FMIs has strengthened through the adoption of the CPSS–IOSCO (Committee on Payment and Settlement Systems/International Organization of Securities Commissions) Principles for FMIs (PFMI).
The public adoption of the PFMI by the authorities in 2013 and the establishment of an interagency platform to assess FMIs are noted as commendable actions.
Full implementation of the PFMI by FMIs is identified as the next step and is expected to enhance the resilience and stability of FMIs.

Continue implementation of PFMI across FMIs to enhance resilience and stability.
Maintain and develop interagency assessment capacity to monitor FMIs' conformity with PFMI.

Subjects: Financial institutions, Financial markets, Financial regulation and supervision, Futures, Legal support in revenue administration, Payment systems, PFM information systems, Principles for Financial Market Infrastructures, Public financial management (PFM), Revenue administration
Keywords: central bank, chairman of the board, CR, credit risk, CSRC's supervision, derivatives OTC derivative, FMIs in China, Futures, Global, ISCR, Legal support in revenue administration, liquidity provider, oversight FMIs, oversight of the PBC, Payment systems, PBC law, PBC payment system participant, PBC's Accounting Department, PBC's regulation, PFM information systems, Principles for Financial Market Infrastructures, private sector liquidity