Spain: Oversight and Supervision of Financial Market Infrastructures Technical Note
IMF Staff Country Reports, June 11, 2012
Source details
- Canonical URL
- Spain: Oversight and Supervision of Financial Market Infrastructures Technical Note
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Bibliographic details
- Published: June 11, 2012
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781475504316.002
Overview and scope
- Focus: financial market infrastructures (FMIs) in Spain.
- Central concern: the way Spanish authorities supervise and oversee FMIs as essential to promoting and maintaining domestic financial stability.
- Note on systemic scope: systemically important payments systems are European or international based, while several domestic FMIs exist.
Key factual findings
- Domestic infrastructures:
- Four domestic securities settlement systems.
- Three domestic central counterparties.
- Legal framework:
- Authorities’ responsibilities with respect to FMIs are clearly defined in the law.
- Identified transparency gap:
- Further transparency on Banco de España’s (BdE) responsibilities with respect to FMIs other than payments systems is recommended.
Subject areas and keywords
- Subjects: Banking; Central counterparty clearing house; Clearing and settlement systems; Financial institutions; Financial markets; Payment systems; PFM information systems; Public financial management (PFM); Securities.
- Keywords: Central counterparty clearing house; Clearing and settlement systems; CR; Europe; Global; ISCR; market condition; market liquidity condition; oversight responsibility; oversight team; payment system; Payment systems; PFM information systems; registry system; repo market closing; Securities; settlement system.