Uruguay : Selected Issues

Author/Editor:

International Monetary Fund. Western Hemisphere Dept.

Publication Date:

February 22, 2019

Electronic Access:

Free Full Text. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

This paper analyzes systemic risks related to the financial market infrastructure in Australia, in particular central counterparties. Supervision and oversight of the financial market infrastructure are well established; supervisory expectations have been notably strengthened over the past few years. It is recommended that the Reserve Bank of Australia consider reviewing its approach to payment systems oversight, in particular by providing greater clarity regarding requirements for systemically and less systemically important payment systems. The IMF team suggests that Australian authorities could benefit from the experiences of and lessons learned by other jurisdictions through their regular and more specialized coordination and communication efforts with other supervisors and resolution authorities. The authorities should also review, and could benefit from, the experiences of and lessons learned in the formulation and codification of Australia’s bank and insurer resolution regime. Enforcement powers for the supervision of central counterparties and securities settlement systems should however be strengthened in accordance with the Principles for Financial Market Infrastructures.

Series:

Country Report No. 19/65

Subject:

English

Publication Date:

February 22, 2019

ISBN/ISSN:

9781484399958/1934-7685

Stock No:

1URYEA2019002

Price:

$18.00 (Academic Rate:$18.00)

Format:

Paper

Pages:

31

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