Euro Area Policies: Financial Sector Assessment Program-Technical Note-Supervision and Oversight of Central Counterparties and Central Securities Depositories
IMF Staff Country Reports, July 19, 2018
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Bibliographic details
- Published: July 19, 2018
- Series: IMF Staff Country Reports
Summary
- Regulation, supervision, and oversight of central counterparties (CCPs) and central securities depositories (CSDs) in the euro area is evolving.
- Recent proposed amendments to the European Market Infrastructure Regulation (EMIR) are expected to further alter the landscape, as is the European Central Bank (ECB) proposal to amend article 22 of the Statute of the European System of Central Banks (ESCB) and the ECB.
- The main objective of this note is to analyze the regulatory and supervisory structure applicable to CCPs and International CSDs (ICSDs) in the European Union (EU) and assess their suitability using international standards and good practices.
Assessment focus and scope
- Analyze regulatory, supervisory, and oversight structures applicable to CCPs and ICSDs in the EU.
- Assess suitability of those structures against international standards and good practices.
- Consider implications of proposed EMIR amendments and the ECB proposal to amend article 22 of the ESCB Statute.
Key topics and themes
- Central counterparty clearing house
- Central securities depositories
- Supervision and oversight of central counterparties
- CCP college
- CCP stress test
- CCP supervision and CCP supervisor roles
- Third-country CCP
- Oversight and risk management rule
- Liquidity and financial sector stability
Subjects and keywords
- Subject: Asset and liability management; Banking; Central counterparty clearing house; Central securities depositories; Currencies; Financial markets; Financial sector policy and analysis; Financial sector stability; Liquidity; Money
- Keywords: CCP college; CCP stress test; CCP supervision; CCP supervisor; central bank; Central counterparty clearing house; Central securities depositories; CR; Currencies; ECB information system; ECB proposal; ECB statute; ESMA representative; EU authority; EU bank; EU market; Financial sector stability; Global; ISCR; Liquidity; oversight of central counterparties; risk management rule; stress test; third-country CCP
International Monetary Fund — Euro Area Policies: Financial Sector Assessment Program technical note (July 19, 2018), Country Report No. 2018/227
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- Country Report